Buy Ambuja Cements at Rs 68-70
Ambareesh Baliga of Karvy Stock Broking is of the view that one should buy Ambuja Cements closer to Rs 68-70. Baliga told CNBC-TV18, “In cement we like both Ambuja and ACC but I think it is more or less close to the top because I don’t see too much of a headroom in both these stocks. For example a stock like Ambuja, I don’t see it going beyond Rs 85-88 levels. So it does not make sense buying right now but when the market comes down like we are expecting sometime around May, I think one should look at buying a stock like Ambuja closer to Rs 68-70 levels.”
Buy Punj Lloyd at Rs 90-92
Ambareesh Baliga of Karvy Stock Broking is of the view that Punj Lloyd is a decent buy at Rs 90-92. Baliga told CNBC-TV18, “In Punj Lloyd although the management seems to be quite positive on that news which had come out, for the time being they are at the losing end. I think long-term growth prospects are decent for Punj Lloyd. So if it comes down to levels of Rs 90-92, it is a decent buy.”
Buy Bajaj Hindusthan
Rahul Mohindar of Viratechindia is of the view that one can buy Bajaj Hindusthan. Mohindar told CNBC-TV18, “Bajaj Hindusthan is a good midcap pick at these levels. There is every possible thing that it may go past Rs 100 as well. So even at these levels it looks an interesting buy on a momentum point of view, Rs 65 is a very good support that the stock has built for itself now. The only key criteria on this stock is to really get past the recent highs that is has made; it could just double top so that’s the only risk that we are running, so Rs 75 is a level, past which we could be in a safe zone.”
RNRL has target of Rs 79-80
Rahul Mohindar of Viratechindia is of the view that Reliance Natural Resources, RNRL has target of Rs 79-80. Mohindar told CNBC-TV18, “One can keep Rs 53 stoploss in Reliance Natural Resources, RNRL and look at a target of around Rs 80, Rs 79-80 could be a reasonable target. So this is a time to accumulate a stock.” He further added, “In Shipping Corporation if we look at the next 3-4 months, I am looking at least 20-25 per cent appreciation from the current market price, the downside risk could be as low as 5-6 per cent only from these levels.”
Reliance has strong support at Rs 1,680
Sanjeev Agarwal, Director, Dynamix Research.Com is of the view that Reliance Industries has strong support at Rs 1,680. Agarwal told CNBC-TV18, “The way Reliance is moving up, I feel there has been a sort of consolidating. Reliance and Nifty almost mirror the same and Reliance has been the leader. It has been the leading indicator for the Nifty. If one see that most of the day, if Reliance is weak Nifty ultimately falls and if reliance is stronger nifty also gets stronger. The way it is moving Nifty has a very strong support at 3,290 and this has become a trend decider for that. If the Nifty is closing below that then we will be looking somewhere around 3,000 level to come back again, holding which we can really touch around 3600 sort of move again above 3,500. It is making a base around 3,300 breaching only yesterday for a little while just around 5 points and being very strong level of 3,300 for many days.” He further added, “Reliance is also working with that and Rs 1,680 has been a very strong support. What I look in these next few days, most of the people had been short at a much lower level and Reliance has been the first stock, which actually pulled Nifty out of this bearishness. So I feel somewhere Reliance can touch Rs 1,900-1,950 in this move by the month end, so there is a little upside for the traders and for the investor, like Rs 1,410 was actually a very good breakout so any fall towards Rs 1,500 is a very good buy for a longer term. What we see in a Nifty we have completed a first phase of bearishness which finished in almost a year.”
Hold United Spirits
Technical Analyst, Sudarshan Sukhani is of the view that long term investors can hold United Spirits. Sukhani told CNBC-TV18, “I track United Spirits. The theme is that this rally is now exhausting itself; United Spirits is not going to out perform. If one is an investor then hold on to the stock for the simple reason that I see it outperforming in the next few years. But if one is a trader then I would advice to get out of it, don’t go short; buy it on dips.”
Ambareesh Baliga of Karvy Stock Broking is of the view that one should buy Ambuja Cements closer to Rs 68-70. Baliga told CNBC-TV18, “In cement we like both Ambuja and ACC but I think it is more or less close to the top because I don’t see too much of a headroom in both these stocks. For example a stock like Ambuja, I don’t see it going beyond Rs 85-88 levels. So it does not make sense buying right now but when the market comes down like we are expecting sometime around May, I think one should look at buying a stock like Ambuja closer to Rs 68-70 levels.”
Buy Punj Lloyd at Rs 90-92
Ambareesh Baliga of Karvy Stock Broking is of the view that Punj Lloyd is a decent buy at Rs 90-92. Baliga told CNBC-TV18, “In Punj Lloyd although the management seems to be quite positive on that news which had come out, for the time being they are at the losing end. I think long-term growth prospects are decent for Punj Lloyd. So if it comes down to levels of Rs 90-92, it is a decent buy.”
Buy Bajaj Hindusthan
Rahul Mohindar of Viratechindia is of the view that one can buy Bajaj Hindusthan. Mohindar told CNBC-TV18, “Bajaj Hindusthan is a good midcap pick at these levels. There is every possible thing that it may go past Rs 100 as well. So even at these levels it looks an interesting buy on a momentum point of view, Rs 65 is a very good support that the stock has built for itself now. The only key criteria on this stock is to really get past the recent highs that is has made; it could just double top so that’s the only risk that we are running, so Rs 75 is a level, past which we could be in a safe zone.”
RNRL has target of Rs 79-80
Rahul Mohindar of Viratechindia is of the view that Reliance Natural Resources, RNRL has target of Rs 79-80. Mohindar told CNBC-TV18, “One can keep Rs 53 stoploss in Reliance Natural Resources, RNRL and look at a target of around Rs 80, Rs 79-80 could be a reasonable target. So this is a time to accumulate a stock.” He further added, “In Shipping Corporation if we look at the next 3-4 months, I am looking at least 20-25 per cent appreciation from the current market price, the downside risk could be as low as 5-6 per cent only from these levels.”
Reliance has strong support at Rs 1,680
Sanjeev Agarwal, Director, Dynamix Research.Com is of the view that Reliance Industries has strong support at Rs 1,680. Agarwal told CNBC-TV18, “The way Reliance is moving up, I feel there has been a sort of consolidating. Reliance and Nifty almost mirror the same and Reliance has been the leader. It has been the leading indicator for the Nifty. If one see that most of the day, if Reliance is weak Nifty ultimately falls and if reliance is stronger nifty also gets stronger. The way it is moving Nifty has a very strong support at 3,290 and this has become a trend decider for that. If the Nifty is closing below that then we will be looking somewhere around 3,000 level to come back again, holding which we can really touch around 3600 sort of move again above 3,500. It is making a base around 3,300 breaching only yesterday for a little while just around 5 points and being very strong level of 3,300 for many days.” He further added, “Reliance is also working with that and Rs 1,680 has been a very strong support. What I look in these next few days, most of the people had been short at a much lower level and Reliance has been the first stock, which actually pulled Nifty out of this bearishness. So I feel somewhere Reliance can touch Rs 1,900-1,950 in this move by the month end, so there is a little upside for the traders and for the investor, like Rs 1,410 was actually a very good breakout so any fall towards Rs 1,500 is a very good buy for a longer term. What we see in a Nifty we have completed a first phase of bearishness which finished in almost a year.”
Hold United Spirits
Technical Analyst, Sudarshan Sukhani is of the view that long term investors can hold United Spirits. Sukhani told CNBC-TV18, “I track United Spirits. The theme is that this rally is now exhausting itself; United Spirits is not going to out perform. If one is an investor then hold on to the stock for the simple reason that I see it outperforming in the next few years. But if one is a trader then I would advice to get out of it, don’t go short; buy it on dips.”
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