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Which Is The Best Mid-Cap Stock In Auto Ancillary Space For Long Term?#AskBQ

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

In today’s episode, Ashish Kelkar of Kiran Jadhav & Associates, and Ashish Kukreja of Craft Wealth Management, gave their views on Avenue Supermarts, Federal Bank, Rain Industries, Titan among others.

Watch the complete show here:

Edited excerpts from the conversation:

Nikhil: I have bought Jamna Auto at Rs 85 and OnMobile for Rs 44, respectively. Should I hold or sell with a short-term perspective ?

Ashish Kelkar: Till the stock is in the current price band of Rs 42 to Rs 54, nothing great can happen to it. On the higher side, the price will have a momentum after it breaches Rs 54 mark to Rs 60-62. Hold with a strict stop-loss of Rs 42.

Aditya Patankar: I hold 500 shares of Avenue Supermarts at Rs 750 for over an year. Should I add more at current levels ?

Ashish Kelkar: I would not recommend buying more into the stock at current levels. You can look at averaging the stock at around Rs 1,350 to 1,380 levels.

Sivakumar: Which is the best mid-cap stock in auto ancillary space for the next 10 years?

Ashish Kukreja: One stock I would recommend is Motherson Sumi which one will have to hold on for a couple of years.

Sai Krishna: I need your views on Rain Industries.

Ashish Kukreja: If buying phase comes in the cement sector, it will emerge in front-line stocks such as ACC Cements and India Cements. Other than this, there is going to be too much volatility in mid-caps and I would avoid those cement stocks.

Ananthavenkatakrishnan: I have bought 40 shares of Dilip Buildcon at Rs 990. What should my strategy be?

Ashish Kelkar: I’m expecting the correction to continue till Rs 600.  An immediate exit is what I would recommend after looking at the current charts.

Naveen: I hold shares of IDFC purchased at Rs 63 and Talwalkars at Rs 250. Can I average or hold for long-term?

Ashish Kukreja: I would not recommend to average for IDFC. I would recommend rural focused NBFCs like Magma Fincorp, M&M Financial for a three-year view.

Ashish Kelkar: Till the stock is in current price band of Rs 42-54, nothing great can happen to this stock. On the higher side, the price will have a momentum after it breaches 54 mark to Rs 60 to 62 mark.Hold with a strict stop-loss of Rs 42.

Rahul Nayakhi: I need a view on Meghmani Organics.

Ashish Kukreja: I believe the selling pressure will continue due to stretched valuations.

Ashish Kelkar: If the price closes below Rs 73.5, then the next target is Rs 62 to 65. I won't recommend averaging or fresh buying is recommended as of now.

Ragha Rag: What are good levels to enter in Titan with a long-term view?

Ashish Kukreja: The prediction is not looking extremely favourable. I would not recommend a new buying. But any levels close to Rs 750-800 are good to add on in a phased manner.

Viewers: Advice for fresh entry for Jain Irrigation, Kaveri Seeds and your views on TVS Electronics for six months holding?

Ashish Kelkar: I would recommend a stop-loss of Rs 81.2 for intra-day for Jain Irrigation. Otherwise, I would recommend an immediate exit.

Kaveri Seeds: Overall chart structure is side-ways. Not a big rally is expected unless it goes above Rs 551. If that is breached Rs 576-580 mark can be reached. Also, have a stop-loss of Rs 528 on a closing basis.

I would not recommend entering at current levels for TVS Electronics, and Rs 305-310 level is right price to buy.

Sanu Saji: I purchased Federal Bank at Rs 82. Is it advisable to sell off and shift to DCB Bank?

Ashish Kukreja: I would recommend to stick with Federal Bank.

Youtube Viewer: Would you recommend entering Marksans Pharma at current levels for the long term?

Ashish Kukreja: I would not recommend entering Marksans Pharma at current levels.

Ramesh M: What should I do with KPIT Technologies if I am an intra-day trader. should I hold or sell at current levels?

Ashish Kelkar: If you are holding a long position, I would recommend holding on to the stock with a strict stop loss of Rs 268. If you are holding a short position, then you should hold on with a strict stop loss of Rs 273.

Analysts’ disclosure: Both the analysts do not have any financial interests and do not hold any stocks discussed today.

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