Right time to buy ACC, Mundra Port, Fed Bank stocks: Kunal Saraogi

Kunal Saraogi, Technical Analyst, www.equityrush.com, in an interview to ET NOW suggested buying ACC, Mundra Port and Federal Bank stocks.


Your stock ideas, ACC, Mundra Port and Federal Bank, what are the targets on these?

The stocks you can go long on are ACC, which has had a very good pullback from the lower levels. With a target of 890, you could go long on this stock with a stop loss of around 835. Mundra Port can again be bought here at the current market price with a target of 710 and Federal Bank can be bought with a target of about 335 with a stop loss at around 304. So all the three are longs, and the reason we are going long on these stocks is because we are betting on a pullback. So we are getting a bullish hammering today on the daily charts. That generally signifies that there can probably be a pullback in the next couple of days.

What are you sensing for Reliance, because even post the SC verdict we have not really seen a whole lot by way of performance from this one?

You are right, Reliance has been a laggard and it is actually consolidating in a very range bound situation. Reliance will show a spark from hereon. It has actually touched the lower end of the range and it is now moving up. So it is probably a good time to actually use this opportunity to buy into Reliance.