Hemant Thukral of Aditya Birla Money told CNBC-TV18, "I have a buy call on Sun TV Network. We like this sector as a whole. We have seen a lot of buying in Zee Entertainment Enterprises and TV18 Broadcast. I picked up Sun TV because it is a trading stock and saw very good addition of open interest on Friday to the tune of 13 percent, delivery volumes also picked up. The stock technically is also getting stronger by moving above Rs 390. So now Rs 378-380 remains a firm support and that will act as a stop loss. In the short-term, we feel the stock is heading towards Rs 412-415 zone."
Disclosure: Reliance Industries has acquired management control of Network18, which owns TV18 Broadcast and moneycontrol.com.
"We have picked up Reliance Infrastructure, the Anil Dhirubhai Ambani Group (ADAG) stock. We are recommending a short because of two reasons; delivery based selling and 11 percent fresh shorts being built-up and technically also the stock is getting weaker because now it has breached Rs 525. In immediate short-term, if it breaches Rs 510 then it gets much weaker and goes towards Rs 475-474 zone. So we expect the stock to get weak. If there is a gap up opening then one can go short but the stop loss for the short trade has to be kept on Rs 525 because now that will act as a stiff resistance level," he said.
