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India in confirmed uptrend;  Ril, Adani Enterprises Top Picks: William O’Neil


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In an interview with CNBC-TV18, Dean Kim, Head-Global Research Product, William O’Neil & Co, said that India is in a confirmed uptrend. However, the Indian stock market could encounter some resistance, he warned. Kim said her top three stock picks would be RIL, Adani Enterprises and CreditAccess Grameen.

India in confirmed uptrend;  Ril, Adani Enterprises Top Picks: William O’Neil

To buy to sell ICICI Bank to share

In an interview with CNBC-TV18, Dean Kim, Head-Global Research Product, William O’Neil & Co, said that India is in a confirmed uptrend. However, the Indian stock market might encounter some resistance, he warned. He added that the market might see support at the 100-day moving average (DMA).

Kim said her top three stock picks would be RIL, Adani Enterprises and CreditAccess Grameen.

Kim mentioned that he was noticing many financial stocks busting in India, especially public sector banks like the State Bank of India (SBI). He explained that some consumer finance stocks like CreditAccess Grameen and Cholamandalam look great. Kim hopes private banks like ICICI Bank, Kotak Mahindra can find some stability.

He explained that some health names like Sun Pharma and Cipla are starting to appear.

On Tata Motors he said: “It’s trying to get back above the 200 day moving average (DMA) and I would give that a bit more time and see if it can form a base and start to pull out from the base, but it’s encouraging to see the stock break above the 200-day moving average for the first time in a long time, so those types of names are also making a comeback.

Watch the video for the full interview.

Disclosure: Network18, the parent company of CNBCTV18.comis controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
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First post: STI


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