Don’t miss the latest developments in business and finance.

Avoid HDFC, Asian Paints ahead of Q2 results: Ranak Merchant

Ranak remains bullish on Capital goods

Image
Manu Kaushik Mumbai
Last Updated : Oct 21 2013 | 1:00 PM IST
SmartInvestor : After Friday's stellar rally, Monday has been rather lackluster so far. What are you expecting from benchmark indices in the day ahead. What are the key levels to watch out today?

Ranak Merchant : With BSe SENSEx at 3 year highs and NIFTy nearing 52 week high of 6229 some consolidation is natural. We have been re-iteraing for traders to now keep booking profits in leverage positions and trade light as we head towards the resistance zone. For today levels to watch for would be 6229 Nifty spot.

SmartInvestor : Broader markets are looking firm today. What are your top picks there which could give good returns in the short-term?

Also Read

Ranak Merchant : We have been bullish on Mid Cap banks and had recommended the same in the last and previous interaction as well. We continue to have a bullish view on them but to avoid repetition one can look at Sugar stocks for a quick bounce as they are showing some traction today. Balrampur Chini for 50, Bajaj Hind for 16 can be quick trading bets. Apart from these one can also look at NCC for 26 and Punjlloyd for 32.

SmartInvestor : How will you suggest trading HDFC and Asian Paints counters ahead of their September quarter earnings scheduled later in the day?

Click here for full transcript


More From This Section

First Published: Oct 21 2013 | 12:48 PM IST

Next Story