See no reason to panic about latest correction in markets: Manish Hathiramani, Deen Dayal Investment

In a chat with ET Now, Manish Hathiramani of Deen Dayal Investment shares his outlook for the markets. Excerpts:

ET Now: What are you making of the Nifty? It is just not being able to take out that 8400 hump. How does that look on the technicals?

Manish Hathiramani: It seems everyone has got a little nervous with today’s correction. I, however, do not think there is much to panic unless we do not really break 8200 on the Nifty spot basis.

If we hold on to that, we are definitely headed to 8450 in times to come. However, it is not going to be an easy ride. We might have bumps here and there. As we come closer to the 8200 levels, we can perhaps start pulling into call options for the 8400 target.

ET Now: What are your top trades on the charts?

Manish Hathiramani: A buy call on TCS for a target of 2650, stop loss of 2550. Also, a buy in Sun Pharma for a target of 950, stop loss of 890.