Buy Unitech, Amtek India, Alok Ind, Rolta: Pankaj Jain

Written By Unknown on Selasa, 17 Juni 2014 | 14.02

Pankaj Jain, Director of Sunteck Wealthmax recommends going long in Rolta and Alok Industries.

In CNBC-TV18's popular show Bull's Eye, Pankaj Jain, Director of Sunteck Wealthmax shares his trading strategies for the day.

One may go long in  Unitech . The stock corrected by more than 15 percent in last few trading session and short-term momentum is back in it. Levels close to Rs 36 could be achieved during the day today.

One may go long in Amtek India . This is a sort of carry forward call and taking the strong technicals and momentum indicators that are still seen in the stock and high delivery volume that are seen in the stock, I believe it could move in positive direction during the day.

One may go long in Alok Industries . Again, not a very healthy stock on basis of fundamentals, balance sheet is very stressed and it's a case of over expansion and high debt but technicals look strong. It seems that the stock could move up by another 10-20 percent even from current levels inspite of challenging fundamentals.

One may go long in  Rolta . The stock has been buzzing around in last one month or so, the kind of action that was seen in the stock, the kind of positivity that was seen, relative strength index (RSI) indicators also suggest that the stock could move up in today's trading session. Taking that into consideration, I will go long on Rolta.


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