Siddharth Bhamre of Angel Broking advises to go long on Larsen and Toubro, Jaiprakash Associates and DLF
Larsen and Toubro (L&T)
Bhamre told CNBC-TV18, "BHEL has seen significant move in the last 2-3 sessions and huge pile up of long positions and that trade has gone now in terms of risk reward ratio, so I won’t suggest go long in BHEL." He further added, "Today I am quite optimistic on Larsen and Toubro (L&T), we have seen lot of short positions have got accumulated in this stock. There might be a copycat kind of trade, which would happen because BHEL has gone so probably now L&T would also follow the same. If not long positions but at least we are expecting some kind of short covering. We have option related strategy also in place in this where we have done ratio bull call spread. But I would suggest today to go long in L&T and I am expecting a price of Rs 1680-1700 in few trading sessions to come in L&T."
Jaiprakash Associates
Bhamre said, "I like Jaiprakash Associates personally also. The stock had taken support around Rs 82-83 mark and from there we have seen good upsurge move. We are seeing good amount of long build up. Difficult to say that whether it would reach 3 figure or not, but Rs 95-96 is pretty much on the cards." He further added. "Those who have found long positions around Rs 83-84 we are among them. We would hold up to Rs 95-96 levels and probably think of booking some profit over there."
DLF
Commenting on DLF, Bhamre said, "We did see Unitech; thanks to some reports in the market that, lot of long positions have got build up over there. In DLF yesterday we saw open interest addition. We prefer DLF over Unitech from trading perspective. So I would suggest that if somebody really wants to go long in realty from trading perspective, DLF can go up to Rs 250-255 levels, so that is one stock." He further added, "From investment perspective, I think HDIL is better than Unitech or DLF that is our house call."
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