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Gaurav Bissa on January 1: Buy Sun Pharmaceutical, & Mahanagar Gas

Updated : January 01, 2019 12:34 PM IST

The latest analysis and commentary by stock market guru Gaurav Bissa of LKP Securities on what is moving the markets today. Check out his top stock recommendations.

He spoke at length about Sun Pharmaceutical, and Mahanagar Gas.

Recommending stock specific ideas, Bissa said, “First recommendation would be buy on Sun Pharmaceutical where we have seen about 2 percent open interest (OI) addition happening today. Some amount of longs are seen getting built. It has been trading in a range of Rs 425-435. It is now comfortably trading above these levels and it can now test levels of Rs 450-455 in next two or three trading sessions. One can keep a stop of Rs 432 and buy Sun Pharmaceutical futures."

"Second recommendation would be buy on Mahanagar Gas (MGL). We have seen some amount of short covering coming in the name. Again this is another name that has been witnessing a range bound activity where the lower end was trading around Rs 860-865 on the upper end. Rs 900 was acting as a strong resistance. It is comfortably trading above those levels, it can fill the gap on daily charts towards Rs 940-945. Again that would be a positional bet. For 2-3 days one can keep a stop loss of Rs 892 and buy for targets of Rs 925-930,” he added.

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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