2 top stock recommendations from Sarita Pansari

“Nifty if it closes below 17,350 when the range is now 17,300 and 17,600, we have to see which side is it breaking. But at present, my bias is on the downside. If it breaks 17,300, then the next level for this is 17,000, 16,900 and 16,750 and the upside is 17,600, 17,750,” says Sarita Pansari, Kantilal Chhaganlal Securities.

What is the view on the Nifty, a critical level was broken today below the 200-day moving average, where do we go from here?
Nifty from 16th Feb after making high of 18,134, past seven trading sessions has given a close lower than its previous day’s close. So today it has broken the budget day low of 17,353 and made a low of 17,300. And if I see at the sectors like metal, pharma they have broken their shorter timeframe support and now they are on their monthly support. FMCG is holding because of ITC. Auto is nearing support levels and Dow also made a low of 32,643 and it has broken its 200-EMA and now the Dow if it breaks 32,400, then this can also go to 31,750.

Nifty if it closes below 17,350 when the range is now 17,300 and 17,600, we have to see which side is it breaking. But at present, my bias is on the downside. If it breaks 17,300, then the next level for this is 17,000, 16,900 and 16,750 and the upside is 17,600, 17,750.

What are your stock specific recommendations?
Sectoral wise, I am again positive on IT and today it seems there is a bit of a correction in IT. So, I will be picking Zensar, CMP for Zensar is, Rs 278, so this we can buy over here and we can accumulate at dips because my stop loss is Rs 260 and targets for this will be Rs 305, Rs 320. And my next recommendation is TCS. TCS is currently trading at Rs 3317 and targets for TCS will be Rs 3360, Rs 3390 with a stop loss of Rs 3300.

Any view as far as some of the banking names are concerned, there has been a recovery in select banking names. How would you look at names like ICICI, SBI which are trying to make a comeback?
They are trying to make a comeback but Bank Nifty index itself is looking a little weak. But then if I have to pick up, I will go for SBI with a stop loss of Rs 512. If it goes below Rs 512, there is exit but here at presently also it is at Rs 525 which is its resistance level so presently this is a no trade zone. I have to see, wait and watch where it goes.