Web Exclusive: Which is a better bet between RIL, ONGC, Cairn India?

Nandish Patel, derivative analyst, Sharekhan helps identify frontline and mid-cap stocks where one can invest at the current levels.


Smartinvestor : The markets have been trading in a tight range since quite some time now. What are the key support and resistance levels for the Nifty? Do you think that the Nifty can slip below 5,500 levels anytime soon?

Nandish Patel : Last time I had mentioned that after a long time Nifty has been drifted below its VWAP levels with a PCR ratio below 1.05.

Nandish Patel : Now also the overall scenario remains same with VWAP levels shifting towards 5650 indicating this level will act as a strong resistance. 5500 is on cards as Straddle breakeven point is somewhat near to this levels but only a close below this levels would open gates for lower targets.

Smartinvestor : What are you top three BUY and SELL ideas from the mid-cap space? Please indicate targets.

Nandish Patel : From the current levels Punjlloyd is looking positive. 50 can be placed as a closing basis stop loss & 53 & 55 can be seen on higher side. IDFC was holding firm above 160 levels & in today’s trade finally this levels were broken. For a positional trade one can sell IDFC with a stop loss of 160 on closing basis.

Smartinvestor : Between RIL, Cairn India and ONGC, which one would be a good buy at the current levels given the F&O data from a medium-term perspective?


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