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Salil Sharma
Technical Analyst, Partner, kapursharma.comDate : 15 Jun 12 | 12:35 PM |
| Smartinvestor : Hi this is Abhishek Vasudev and we have with us Salil Sharma Technical Analyst, Partner, kapursharma.com back with us for the chart check |
| Salil Sharma : Hi Abhishek |
| Smartinvestor : Nifty has tested 5,100 levels in this week's trades. Where are we headed in the short term? What are the important levels that one should keep a tab on? |
| Salil Sharma : Nifty has broken out from the double bottom formation. Now, it can move upto 5,250 levels. But, for this to happen it has to stay above 5000 anybody taking long position should keep stop loss at 5,000. A lot will depend on RBI policy on 18 this month. If it cuts rates by 100bps then banking shares could rally. Meanwhile, 5,125-5,190 is a major resistance zone. It will not be a smooth run for the Nifty. On downside it has important support at 4,910. |
| Smartinvestor : Which stocks are looking attractive from the Nifty pack for long/short position? |
| Salil Sharma : One can buy ACC with stop loss at 1,190 and target of Rs 1,270, RIL is looking good for target price of Rs 745 and stop loss should be placed at Rs 715. SBI is also a buy with stop loss at Rs 2,110 and target of Rs 2,230. Short HCL Technologies with stop loss at Rs 497 and target of Rs 470. |
| Smartinvestor : L&T gave a sharp upmove in a past few days of trade. What is your outlook on this stock? Any other stock from the capital goods space that you would like to recommend? |
| Salil Sharma : L&T is looking good on charts. It should stay above Rs 1,305. If it breaks Rs 1,310 conclusively then it can touch Rs 1,42. It has support at Rs 1,160. From capital goods stocks, we like Crompton Greaves with stop loss at Rs 107 and target of Rs 144 for 4-month period. |
| Smartinvestor : What is your outlook on the rate sensitives? How should one trade this sector shares ahead of the RBI's policy review? |
| Salil Sharma : Autos are not looking attractive specially 4-wheelers. Hero MotoCorp can be purchased with stop loss at Rs 1,950 and target price of Rs 2,030. From Realty we like DLF for target of Rs 234 and target of Rs 180. In the banking we like SBI, PNB, Dena Bank and Uco Bank. |
| Smartinvestor : What is your view on the healthcare and FMCG stocks? |
| Salil Sharma : We like Ranbaxy one can buy with a target of Rs 510 keeping stop loss at Rs 460. Shasun Pharma can be bought for target of Rs 130 and stop loss at Rs 106. In FMCG HUL can be purchased with 6-month perspective for target of Rs 485 and stop loss at Rs 428. We also like Britannia from this space, while ITC is a sell. |
| Smartinvestor : What is your outlook on the rupee? How do you see rupee to pan out in the near term? |
| Salil Sharma : It is likely to be rangebound between 55.10 and 56.60. A dip below 56.60 can take it back to high levels. |
| Smartinvestor : Disclosures, if any? |
| Salil Sharma : It is safe to assume that we have interest in all the stocks discussed above. |
| Smartinvestor : Thanks for your time and advice. See you again soon. |
| Salil Sharma : Thanks, bye. |
| Salil Sharma has logged out at 15-Jun-2012 12:41:14 pm |
| Smartinvestor has logged out at 15-Jun-2012 12:41:18 pm |
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