Excerpts from an Interview of Manas Jaiswal AVP & Technical Analyst, Motilal Oswal Financial Services on Bloombergutv
Telecom space is looking weak and advises going short on Idea for a target of Rs 43. Keep a stop loss of Rs 61.
What is your take on the Nifty?
Manas: The trend for Nifty remains bullish if it manages to hold itself below 5,065 levels. It is likely to face resistance around 5,200-5,210 levels; however, if that is taken out then 5,299 could be reached.
Also let us know your view on the realty space?
Manas: The sector remains oversold. However, DLF looks good with a target of Rs 330-335. Keep a stop loss at Rs 292.
Your call on Aban Offshore?
Manas: It had a support at 1048 levels, which was breached yesterday. Avoid going long on the stock as it is likely to go to Rs 920-900.
Your picks in the midcap banking space and about SBI?
Manas: Allahabad bank is a good pick in the space for a Manas: Allahabad bank is a good pick in the space for a target of Rs 177. Keep a stop loss of Rs 148. For SBI, we continue to remain bullish for a target of Rs 2,450.
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