Nifty IT Index may hit fresh life-time high in next 18 months: Gaurav Bissa

economictimes.indiatimes.com:

«If somebody wants to buy I would not recommend buying right away but any declines towards say 1010-1000 would be a lucrative by keeping the stop loss at 950-960, on the upside 1100 is good is what I would be looking for,» says Gaurav Bissa, Incred Equities.How does the charts look for United Spirits? Do you track this stock or the products it offers? I do track the stock though not the products and the offers. The stock is looking good on long term charts but short term we have not been getting too much of signals so at times it was giving 4%-5% breakout.

The long-term structure is very good. It gave a multi-year breakout, made a retest of this multi-year breakout.

Now it is making a fresh swing high so at the current juncture if it sustains above levels of 970 probably it can head towards 1100 in a short period of time or 1120 for that matter. So if somebody wants to buy I would not recommend buying right away but any declines towards say 1010-1000 would be a lucrative by keeping the stop loss at 950-960, on the upside 1100 is good is what I would be looking for.

So it is a good stock for short term probably 5-7% move but for long term I think 30-40% upside can also be seen next two-three years.Within the IT pack which is the name that you would think is entering the buying zone, the risk reward is comfortable now? Well there are two ways to answer this question; if you are asking for a short term then I think I would be more inclined towards something like KPIT where the trend is very strong and it can give some more upside. IT for short term is going to be very selective.

I think there is some more grinding that is left for maybe one or two months. But what we are advising to our clients and that to on a very