Smartinvestor : The BSE Mid-cap index has outperformed the benchmark indices with real estate counters like Purvankara Projects and Peninsula Land rallying smartly. Do you track these counters? Are there any stocks in the realty pack that you would like to recommend for a long / short position?
Ranak Merchant : Yes, realty stocks have regained momentum in the day's session and the said names have logged smart gains. Apart from these gainers Brigade Ent looks good and can be accumulated between 80 - 83 for a target of 90. Parsvanath Dev though a slower mover can be looked at from medium term target of 47-48. From frontline stocks DLF continues to be a favourable bet for a trading target of 272.
Smartinvestor : Telecom stocks - Bharti Airtel, RCom and Idea Cellular are reeling under selling pressure today. Do you expect more downside going ahead?
Ranak Merchant : Yesterdays news has affected this counter adversely and negated the short term bounce that would have been possible in the sector stocks. However as Bharti Airtel and Rcom are presently holding onto their 200 Day EMA of 312 and 71.50 respectively, if the same holds towards close, stocks would be able to arrest the downfall and consolidate. For Idea the level to watch would be 105.
Smartinvestor : How are Titagarh Wagons, Kalindee Rail and Texmaco Rail shaping up ahead of the Railway Budget? What are the key technical levels one should keep a tab on here?