Anu Jain of IIFL Private Wealth Management is of the view that JK Cement may add 10-12 percent more.
Anu Jain of IIFL Private Wealth Management told CNBC-TV18, "As a sector cement is giving very clear signals that it is not going to stop. So obviously there has been a momentum build-up which has already happened for a certain percentage points. So we saw JK Cement and India Cement. Corporate governance is now out of the window, it is just momentum. I think that is definitely going to continue. If somebody wants to take a trading position or an investment position it is just the type of stocks you get in for that. So that is definitely going to be a positive bias."
She further added, "I was looking at charts of JK Lakshmi , JK Cement , UltraTech Cement and India Cement . Even though JK cement moved up quite substantially, it is looking good for even about another 10-12 percent more; same with India Cement and Orissa Cement. So the small caps which are not so liquid probably the larger caps could give you 3-5 percent in the week," she added.
"There is a positive bias on pharma also, so Dr Reddy's Laboratories which is in the large cap is looking like it could probably give you another 4-5 percent. So that stays on the long side. Another sector which is showing accumulation but which has not yet given a breakout is the PSU banks. There is a certain amount of bottom formation which has happened in this period. One can see whether it is smaller names like UCO Bank or larger names like State Bank of India , some kind of action is starting to happen but it won't happen in the next week. I probably expect it in the October series to see some kind of breakout there," she said.
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