#AskBQ is BloombergQuint’s daily offering where market experts help investors make the right investment decisions in the equity market.
In today’s episode, Sandeep Jain of TradeSwift and Brijesh Singh of StockAxis shared their views on Astron Paper, Tata Motors, United Breweries and many more.
Watch the show here:
Edited excerpts from the interaction:
Nikhil Ganshe: Is it the right time to buy United Breweries & Tech Mahindra with a short-term view?
Brijesh Singh: Rs 628 and Rs 640 are the two important support levels for Tech Mahindra. Take a buy call if it drifts towards Rs 640-645 and keep a stop loss of Rs 625 and look for a shorter-term target of Rs 680-685.
For United Breweries, Rs 1,080 and Rs 1,125 are important supports. Above the Rs 1,190 level, watch for Rs 1,255 levels, and take a buy call with a stop loss of Rs 1,080.
Vivek Kanuja: What is your long-term view on Astron Paper as plastic packaging is banned in Maharashtra?
Sandeep Jain: Paper and jute industries look attractive post the ban. Hold on to the stock. It won’t be right to exit now. Fresh buying is not recommended.
Krish: I hold Century Plywood at Rs 330 for long term. Is it advisable to average out?
Brijesh Singh: There is a double-bottom formation at Rs 230-260. If it holds on at Rs 230, one can go for a small investment with stop loss at Rs 250.
Sagar Reddy: Is it the right time to buy KNR Constructions, NOCIL or Ashok Leyland?
Brijesh Singh: For KNR Constructions, if it trades below Rs 220, then one should definitely go for a buy call keeping a stop loss of Rs 200, with a pull back value till Rs 250-255. At this juncture, let it go down by Rs 10 so the risk reward ratio is in your favour.
Rs 105 is a level to watch closely for in Ashok Leyland. Anything below Rs 120, one can take a buy call keeping a stop clause of Rs 105 with a call back value of Rs 138.
Buy at Rs 150, and keep a stop loss of Rs 120 for NOCIL.
Pinkesh Jain: I need a long-term view on Tata Motors.
Sandeep Jain: One should hold on to the stock and at these levels, one should not exit. Hold on for at least two to three years.
Anjaneya Pachauri: Which is the best pharma stock for the next three months?
Brijesh Singh: Aurobindo Pharma looks good and anything below Rs 600, with a three month time frame, one can go for a buy call with a stop loss of Rs 570. Cipla looks good and take a buy call with a stop loss of Rs 595.
Surya Tamobhedi: What are your views on ICICI Lombard General Insurance and Aditya Birla Capital?
Sandeep Jain: One should avoid ICICI Lombard. It is a good sector otherwise but one should go for HDFC Standard Life or SBI Life or even ICICI Prudential.
Regarding Aditya Birla Capital, financial conglomerates will do well. Hold on to the stock.
Sagar: What are your top picks in the cement space?
Sandeep Jain: I would go with UltraTech Cement in the large cap and Star Cements in the small cap space.
Bhavesh Jain: Your fundamental view on HBL Power. My time frame is one year and I wish to take a fresh position.
Brijesh Singh: Avoid HBL. CSES Calcutta looks good instead.
Rangarajan Balakrishnan: Is the current level good to enter Bombay Dyeing?
Brijesh Singh: For buying, Rs 195 is a good level to buy with a stop loss of Rs 197.
Chirag: I hold stocks of Kellton Tech at Rs 60 after split. What should I do?
Brijesh Singh: Keep a stop loss of Rs 45.
Anantha Venkatakrishnan: I hold 142 shares at Rs 115 apiece in Federal Bank. Is it a good idea to average at the current level?
Sandeep Jain: Hold on to the stock as it is not advisable to exit at the current levels.
Sandeep Jain might have recommended some of the stocks discussed in the show to his clients.
Brijesh Singh: I do not have any financial interests and do not hold any stocks discussed today.
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