The latest analysis and commentary by stock market guru VK Sharma of HDFC Securities on what is moving the markets today. Check out his top stock recommendations.
He spoke at length about Bajaj Finance, Canara Bank, Manappuram, BHEL, Glenmark, Larsen and Toubro.
Speaking about individual stocks, Sharma said, “Bajaj Finance is one that we like. We have seen open interest (OI) being added on the first day and we are suggesting to buy the 2,650 Call at Rs 94, stop loss at Rs 70 and target of around Rs 140. Canara Bank seems to be the best bet among the financials now. With 8 percent OI being added on Friday, 2 percent rise in the open interest. I am buying the 280 Call at around Rs 12, stop loss at Rs 9 and target at around Rs 18. Mannappuram is my third financial call. I am buying the 95 Call in Manappuram at Rs 3.5, stop loss at Rs 2.5 and target of around Rs 6.”
“We have seen capital goods as a sector going up and BHEL is a stock that we like. I am suggesting to buy the 72 Call at around Rs 3, stop loss at Rs 2 and target around Rs 5.5. This is the highest close since November 2; the oscillators are also positive. Larsen and Toubro (L&T) I have recommended earlier also. The whole sector is good, but BHEL looks technically well placed,” he added.
On Glenmark, Sharma said, “Glenmark is pharmaceutical stock which I am picking up. Although the pharmaceutical sector per se bottomed out in the month of May, it has gone up by 12 percent. However, Glenmark is the stock which has done the best. It has almost risen 41 percent from the lower levels. I am still buying the 700 Call at Rs 25, stop loss at Rs 20 and target of around Rs 35.”Disclaimer:
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