K Subramanyam, co-head (equity advisory) at Altamount Capital, said domestic stock markets are heading for exciting times and the Nifty may touch 8,800 in August. He also cautioned that markets are heading towards overbought territory. (Watch)
Stock talk:
1) Buy Adani Enterprises: The stock is looking good on charts and is very close to its bottom. Risk-reward is favourable in the stock and levels of Rs 88-90 are possible.
2) Buy Crompton Greaves: The stock has given a very good breakout on technical charts. It may touch levels of Rs 85-90 on the upside.
3) Buy IDFC: Buying has been visible in the counter, and in the derivatives segment, even institutional buying has been seen in the counter. The sector is getting re-rated, so bargain hunting may be seen in this counter.
4) Asian Paints: Momentum is there in the stock and so it may go up to Rs 1,200, but investors should book some profit in the counter. Fresh entry into the stock should be made only after 4-5 per cent correction.
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