Anil Manghnani of Modern Shares & Stock Brokers said he would wait for a bit of correction, may be about 5-6 percent on pharma stocks before buying them.
Anil Manghnani of Modern Shares & Stock Brokers remains bullish on oil and gas sector. The target for IOC is Rs 343, he adds.
In an interview to CNBC-TV18, Anil Manghnani of Modern Shares & Stock Brokers shared his reading and outlook on market and specific stocks.
Anil Manghnani of Modern Shares and Stock Brokers tells CNBC-TV18 that the market will find a top within the next 100 points, after which a 50% correction is on the cards.
Anil Manghnani of Modern Shares and Stock Brokers tells CNBC-TV18 that the Nifty could rally another 100 points if it manages to close above the 5067 level.
Anil Manghnani of Modern Shares and Stock Brokers feels that the Nifty would retest 4,720 levels again. According to him, even if the Nifty reached 5,000-5,050 levels, there would be a lot of selling.
According to Anil Manghnani of Modern Shares and Stock Brokers, we missed out on a few good global cues in the past couple of days. However, he is hopeful that the market will continue its catch up.
Technical Analyst, Anil Manghnani of Modern Shares and Stock Brokers in an interview with CNBC-TV18 said that he was quiet surprised at the movement of Nifty yesterday.
Anil Manghnani of Modern Shares and Stock Brokers, in an interview with CNBC-TV18's Sonia Shenoy and Mitali Mukherjee, said that he feels the 5,350 level is a very important level and would hold to that level in spite of any dip or fall.
Anil Manghnani, Modern Shares & Stock Brokers, in an interview with Udayan Mukherjee and Mitali Mukherjee, spoke about his reading of the market and gave his outlook going forward.
In an interview with CNBC-TV18, Anil Manghnani, Modern Shares and Stock Brokers says, the market is at a crossroad now or a major inflexion point. “We are at a major point, either the market has to breakout above 5,940-5,950 range or it needs to pullback to about 5,720,” he adds. However, he says, a pullback would be ideal.
The market has taken everyone by surprise. With ferocity of the rally these last few days, Anil Manghnani of Modern Shares and Stock Brokers says, “Amid the exuberance coming in; personally I would be a seller today.”
Anil Manghnani, Modern Shares and Stock Brokers says, the market is very close to a major resistance zone. “5,560-5,620 is the range where I think this market should stop and then start to retrace,” he adds.