An official shows new currency notes of Rs 500 at State Bank of India head office in New Delhi (Source: PTI)

Is It A Good Time To Invest In Nifty Bank Index? #AskBQ

#AskBQ is BloombergQuint’s daily offering where market experts help investors make the right investment decisions in the equity market.

In today’s episode, Sameet Chavan, chief analyst of technical and derivatives, Angel Broking, and Vikas Sethi, managing director, Sethi Finmart, share their views on Reliance Industries, Exide, Nifty Bank and Maruti Suzuki India among others.

Watch the full conversation here:

Edited excerpts from the conversation:

Sandeep Kumar: I need a view on  the Nifty Bank index. What should be my stop-loss for a long-position?

Sameet Chavan: One should hold on to the stock. ICICI Bank and Axis Bank could drive this rally further. Keep a stop-loss below Rs 27,800.

Sagar Jain: What is the resistance and support level, with a one-month view, for Nifty?

Sameet Chavan: It is difficult to project such levels for Nifty but one can see good convergence at Rs 11,500 and one should watch out for this level.

Nikhil: Is this the right time to enter Firstsource Solutions?

Sameet Chavan: If the stock surpasses the Rs 75 level, one can take a call.

Melwin: I bought shares of Indostar Capital Finance at Rs 572 apiece. Are the current levels good to average or buy more shares?

Vikas Sethi: I would recommend the investor to invest in L&T Finance, Aditya Birla Capital. These two stocks are a better investment than Indostar.

Srikar: Is this a good time to make fresh investment in Exide with a long-term perspective?

Vikas Sethi: I would recommend one to hold on to the stock until it reaches a Rs 265 level. One can buy a few units at the current levels and then once those correct, more shares can be bought.

Rahul Bangera: What is your one-month view on Quess Corp?

Sameet Chavan: I would recommend one to wait until it reaches the resistance level at Rs 1,050.

Kartik: What is your one-month target on Reliance Inudstries and Maruti Suzuki India?

Sameet Chavan: One can trail the stop-loss to Rs 1,160 for Reliance Industries.

For Maruti Suzuki India, the stock needs to gain some momentum.

K Kanhaiya: I am holding shares of Bharti Airtel at Rs 362 apiece, Tata Motors at Rs 268 apiece and Jubilant FoodWorks at Rs 1,426 apiece with a two-four year time horizon. What should I do?

Vikas Sethi: Of the three stocks, I would recommend one to sell Bharti Airtel and invest in Reliance Industries instead. Tata Motors is a good stock to hold with a long-term view.

I am bullish on Jubilant FoodWorks and I would recommend one to buy this stock.

Gopi R: Is this a good time to enter ITC with a short-term view?

Sameet Chavan: If the stock reaches the Rs 290 level, one can should invest.

Girish Kumar: I have shares of Jay Bharat Maruti at Rs 495 apiece. Should I book losses or hold on to the stock?

Sameet Chavan: The stock has a dry volume activity and needs to surpass the Rs 480 level. I would recommend one to hold on to the stock with a stop-loss of Rs 440.

Raj Shah: I bought 1,500 shares of KNR Construction at Rs 219 apiece, and 2,500 shares of PNC Infra at Rs 155 apiece. I have a time horizon of three years. Should I add more shares?

Vikas Sethi: I would recommend one to buy NCC at the current level, instead.

Rangarajan, Sumit: What is your fundamental view on Delta Corp?

Sameet Chavan:  I would recommend one to hold on to the stock.

Analysts’ Disclosure:

The experts may have recommended some of the stocks discussed in the show to their clients.

Disclaimer: The commentary on BloombergQuint represents the view of external experts. Investors are advised to consult a certified financial advisor/planner when making any investments. No views shared on a BloombergQuint program or story or conversation should be construed as personal advice.

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