This Article is From Aug 02, 2016

Buy ICICI Bank, L&T; Sell HCL Tech: Sahil Kapoor

Buy ICICI Bank, L&T; Sell HCL Tech: Sahil Kapoor

Sahil Kapoor recommends buying Nifty call options.

Sahil Kapoor, chief technical analyst at Edelweiss Securities, expects Nifty to touch 9,000 levels by September. He recommended buying Nifty call options as premiums are relatively low.

Stock Talk:

Buy ICICI Bank: The recent correction is a good opportunity to enter into the stock as it has already established a bullish trend. Buy the stock around Rs 245 for a target of Rs 275-Rs 285 over next two months.

Buy Larsen & Toubro: Correction in the stock will continue for some more time. Buy the stock if it falls to Rs 1,460. The stock can touch Rs 1,650-Rs 1,700 on the upside. Overall trend in the stock is positive.

Buy Havells India: The stock will continue to outperform the market. I feel another 7-8 per cent upside is left in the stock.

Buy Crompton Greaves Consumer Electricals: We are bullish on the stock, we have a target of Rs 190 on the stock, which we think will be achieved.

Buy Tata Steel: The stock can touch Rs 390 level on the upside. Buy it with a stop loss of Rs 355-Rs 340. Vedanta and Hindalco look overbought on charts, so avoid them.

Sell HCL Tech: The overall trend in the stock is negative. Sell the stock if it closes below Rs 760-770 level.