Bajaj Hindustan is a buy: Rajat Bose
Looking at price of 137 to about 143 on Bajaj Hindustan.
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| Rajat Bose, rajatkbose.com, in a chat with ET Now talks about his stock ideas.
Since the index is not doing a whole lot, is there any stock idea from you?
The index the support range is between 5968 and 5955. Unless this support range is decisively broken, I do not think there is much to worry about except for the fact that there is hardly any movement centring around the index.
There are quite a few stocks. Ceat could be looked at. It seems to be rising from the bottom after consolidating for a couple of months or so.
In the sugar space, Bajaj Hindustan is a pick. I am looking at price of 137 to about 143, putting a stop below 104 and I am expecting this counter to meet the target within next 6 to 8 weeks.
Bannari Amman is another counter. There is low liquidity but then there is a good possibility that this stock is going to give you 15-20% return going forward in about say next 2 to 3 months because these stocks are actually rising from lower levels.
Sesa Goa is another stock that you can look at. It has consolidated at lower levels. Once 320 is breached, immediate target would be 327. But Sesa is actually expected to move up to something like 336 to about 340 - that is a possibility on Sesa Goa.
But two key stocks which are actually giving me a lot of jitters are Larsen & Toubro and Tata Motors. Normally, we have seen in the last 20 years - barring the IT bull run - that Larsen & Toubro and Tata Motors tend to lead the market in case of any bull market and they also peter out before the bull market ends. They are harbingers of good or bad times both and they are actually suggesting that such good times are actually possibly coming to an end - at least we are heading for some kind of a correction going forward because these stocks are suggesting lot more technical weakness than they were suggesting even a couple of months back.
So we need to be pretty wary and how these two perform would determine a lot going forward and especially the period beyond January 10, I am quite wary of the market performing on the upside.
Since the index is not doing a whole lot, is there any stock idea from you?
The index the support range is between 5968 and 5955. Unless this support range is decisively broken, I do not think there is much to worry about except for the fact that there is hardly any movement centring around the index.
There are quite a few stocks. Ceat could be looked at. It seems to be rising from the bottom after consolidating for a couple of months or so.
In the sugar space, Bajaj Hindustan is a pick. I am looking at price of 137 to about 143, putting a stop below 104 and I am expecting this counter to meet the target within next 6 to 8 weeks.
Bannari Amman is another counter. There is low liquidity but then there is a good possibility that this stock is going to give you 15-20% return going forward in about say next 2 to 3 months because these stocks are actually rising from lower levels.
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Sesa Goa is another stock that you can look at. It has consolidated at lower levels. Once 320 is breached, immediate target would be 327. But Sesa is actually expected to move up to something like 336 to about 340 - that is a possibility on Sesa Goa.
But two key stocks which are actually giving me a lot of jitters are Larsen & Toubro and Tata Motors. Normally, we have seen in the last 20 years - barring the IT bull run - that Larsen & Toubro and Tata Motors tend to lead the market in case of any bull market and they also peter out before the bull market ends. They are harbingers of good or bad times both and they are actually suggesting that such good times are actually possibly coming to an end - at least we are heading for some kind of a correction going forward because these stocks are suggesting lot more technical weakness than they were suggesting even a couple of months back.
So we need to be pretty wary and how these two perform would determine a lot going forward and especially the period beyond January 10, I am quite wary of the market performing on the upside.
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