Trading Ideas: Hold Hindustan Composite, KPI Green Energy, SpiceJet, Tata Power

Market experts are suggesting a 'hold' on Hindustan Composites Ltd., KPI Green Energy Ltd., SpiceJet Ltd, and Tata Power Ltd. Are you wondering what you should do with your KPIT Technologies Ltd. stocks? Find out in the article.

Swati Hotkar, assistant vice president, Technical Research, Nirmal Bang Institutions, and G Chokkalingam, founder and managing director, Equinomics, share their views on stocks.

G Chokkalingam: It's a very deep-value stock. The company is Mumbai-based. More than core operations, Hindustan Composites is sitting on huge investments. It's a good Buy and Hold also. The only concern is that the value stock is not picking up. The market is driven by new-age investors who are preferring new-age companies. That's the only drawback of the company.

Swati Hotkar: The view is a bit cautious as of now. It's in the consolidation range within the Rs 752 – 850 levels. Volumes are increasing slightly. On the upside, if it manages to break out a Rs 850 level, there could be a some sort of reversal in the trend. It may move towards Rs 1,000.

"I would suggest to hold on particular counter. There's no need to book your losses. The counter is trading near the oversold zone." A trader can exit the long position, in case the stock move towards Rs 900 levels. 

Swati Hotkar: The counter looks really good on the technical front. On the larger, degree market participants are seeing that the stock is on correction mode. It's facing the resistance at Rs 1,600 levels. As long as it remains below the resistance level, the view will be 'cautious' for shorter period of time.

Over a period of time, if any trader is looking at one or one and half a year timeline, the stock has strength to reach up to Rs 1,600 – 1,670 levels on the higher side. 

At the current market price, a trader should maintain a strict stop loss of Rs 1,400 on a downside. The long position can be carried with immediate target of Rs 1,600. Above that level, Rs 1,800 can be seen. 

G Chokkalingam: There's a fantastic outlook in India aviation. But, SpiceJet Ltd. has its own problem in terms of debt and profitability. There's some amount of risk in this. The relief is that there has been a restructuring in terms of shareholding pattern to some extent. The restructuring is happening in the balance sheet as well. Therefore, there is a possibility of a bounce-back in the stock substantially in time frame of one-two years. 

If oil price jumps substantially, the progress of this particular company will be impacted. If oil prices decline, it will help weak company like SpiceJet to come back. It's a Hold for now. 

Swati Hotkar: The overall view is a little bit conscious because in last three to four months, it is witnessing selling pressure. A correction was seen from Rs 475 to Rs 385 level. The stock is entering in the oversold zone. The immediate support level is Rs 380 apiece. If the support level breaks, more correction should be witnessed towards Rs 360 apiece. It's not suggested to average it out at the current market price. Let the stock find out support at Rs 360–370 levels.

At that level, a trader can take average position. Upside can be seen if the stock manages to break out Rs 400 levels. It's the previous support level. The view is 'Hold' right. 

Disclaimer: The views and opinions expressed by the investment advisers on NDTV Profit are their own and not of NDTV Profit. NDTV Profit advises users to consult with their own financial or investment adviser before taking any investment decision.