NIFTY 50

CA Rudramurthy of Vachana Investments recommends buy on Reliance, SBI & BEL

Updated : May 30, 2019 12:08 PM IST

Sudarshan Sukhani of s2analytics.com, Kiran Jadhav of KiranJadhav.com and CA Rudramurthy BV of Vachana Investments discusses with Reema Tendulkar 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 answered viewer stock queries.

They also spoke at length on Larsen & Toubro (L&T), Ramco Cements, Interglobe Aviation, Icici Prudential Life Insurance, Pidilite Industries, Reliance Industries, State Bank of India (SBI), and Bharat Electronics (BEL).

Sudarshan Sukhani stock recommendations are, “Since the view is that the markets are showing momentum we want to buy the Index. We want to buy the stocks also it is all on the long side. L&T is a buying opportunity. Stock has been outperforming for many weeks now and I think that outperformance will continue. So buy L&T buy Ramco Cements. It is part of the cement sub group which is doing very well. Most cements stocks should do well. Ramco just happens to be the selection for now. Finally Interglobe Aviation that is one airline of the two which should continue its outperformance so staying with outperformers.”

Kiran Jadhav stock picks are, “I have two stocks which are buy call one is Icici Prudential May Futures that is a trade for today only, stop loss of Rs 389 target of Rs 400-403 should be seen today itself. If you look at the option chain data there is a good kind of additions for today’s trade itself. 309 Call option has added around 52,500 shares and 400 Call option has added 49,500 shares which is a huge sum for that discounter on an expiry days. We should see a good run-up in this counter by the end of the day. Second one is stock which is giving positive divergence. Pidilite Industries is the counter stop loss is Rs 1,260 and target should be Rs 1,285-1,290, it should be achieved by today or by tomorrow.”

CA Rudramurthy stock picks are, “Stock specific for next month people can definitely look at Reliance, for me it is a very strong stock. Rs 1,300 is a very strong support so keeping a stop loss of Rs 1,310 positionally I will be buying Reliance on every dips for an initial targets of Rs 1,355 and even above that Rs 1,400 is visible on Reliance. SBI looks very strong from PSU and initially targets of Rs 364 can be seen in SBI. Keep a stop loss of Rs 340 for this long call and for me BEL also looks very strong. Rs 120 will be initial target with a stop loss of Rs 109 I will be going long on BEL.”

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.

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
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