NIFTY 50

Buy ICICI Bank, Grasim Industries & Tata Steel, says Rahul Shah of Motilal Oswal

Updated : May 27, 2019 12:14 PM IST

Sudarshan Sukhani of s2analytics.com, Kiran Jadhav of KiranJadhav.com and Rahul Shah of Motilal Oswal discusses with Prashant Nair and Ekta Batra their readings and outlook on market technical and F&O side of the market as well as specific stocks and sectors.

They also spoke at length on Ajanta Pharma, Karnataka Bank, PVR, Cummins, Siemens, ICICI Bank, Grasim Industries & Tata Steel.

Sudarshan Sukhani stock picks are, “Ajanta Pharma is a buying opportunity for the day, this stock has been outperforming. It has already gone through a correction, build a base a consolidation and broken out. Similarly most financials are buy on today and that should continue. Today’s theme is banks and financials. Karnataka Bank is a buying opportunity that is a bank that has been outperforming and that should continue. I have a short sell just to keep the exuberance a little cooled off. PVR has been a disappointment. The charts have suggested a distribution and eventual breakdown.”

Kiran Jadhav stock ideas are, “My first stock is Cummins which should be purchased immediately. It has given a classical breakout of a huge consolidation of three months. One should hold their longs right now and add longs to their position right now. Stop loss will be now Rs 770 target should be Rs 805 -820 which I have modified right now because the stock has rallied. Siemens is another call where I feel the momentum is very strong. My stop loss now would be Rs 1,240 and target would be Rs 1,280-1,320. Rs 1,320 should come by tomorrow morning.”

Rahul Shah F&O stock picks are, “ICICI Bank, stock is at 52 week high and it has come into a new territory as of now so my view is that it has given a fresh breakout, good longs build up so one should go long in ICICI Bank with stop loss of Rs 426 and target of Rs 448. Grasim definitely has entered into new territory with good longs build up so my sense is there is some more room for stock to go ahead so I would go long on Grasim with a stop loss of Rs 930 and target of Rs 985. Tata Steel is a buy with a stop loss of Rs 495 and target of Rs 520.”

Follow stock recommendations by Sudarshan Sukhani here: https://www.cnbctv18.com/author/sudarshan-sukhani-159/

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.
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