KYI: Best stocks to trade as TCS, RIL rolls out Q3 results
The market is gearing up for key earnings results next week including from Tata Consultancy Services Ltd (TCS) , Reliance Industries Ltd and ITC Ltd. Inflation data is also expected on Monday.
Sensex closed 24.21 points down at 19639.34 on Friday. Nifty ended the week with a loss of 17.35 points or 0.29% at 5951.30. The market is gearing up for key earnings results next week including from Tata Consultancy Services Ltd (TCS) , Reliance Industries Ltd and ITC Ltd. Inflation data is also expected on Monday.
So, as we roll into one of the important weeks of the year, Moneycontrol.com got Hitendra Vasudeo, Technical Analyst to answer the stock queries you sent us on our Facebook page as part of KYI (Know Your Investment). Check out his comments.
Sweetyy Singhal: What are your top picks for 2013?
Hitendra Vasudeo: CIPLA, DR REDDY, HCL TECH, HPCL, INFY, ING VYSA BANK, MARUTI, ONGC, TATA MOTORS, TECH MAHINDRA On correction in market and stocks they can be used to accumulate.
Chandra Sekaran A R: What to buy in cash segment now?
Hitendra Vasudeo: WIPRO Buy above 423 Stop loss 303 Buy On Decline 377.2 & 348.8 Target 575.4 & 617.2 CMP 419.95 date 11/1/2013 time 7.25 pm Time Frame 15 days or more
POLARIS Buy above 121 Stop loss 112 Buy On Decline 117.6 & 115.4 Target 132.4 & 135.6 CMP 120.3 date 11/1/2013 time 7.26 pm Time Frame 15 days or more
Sanket Bathia: What is your call on Tata Motors?
Hitendra Vasudeo: Broadly, trend is up and correction down to 302-291 will opportunity to accumulate for long term investors. Buy is suggested and on correction also.
For short term traders and investors stop loss is 312 to hold long position.
Expect the stock to move towards 386 with volatility.
Pushpa Bhanushali: What about Steel Authority of India (SAIL)?
Hitendra Vasudeo: Correction down to 89-86 can be used for accumulation with a stop loss of 75. Resistance is likely to be seen at higher range.
Further rally may continue above 102. If that happens then expect significant rally.
Extreme near term traders can use rise from current level to 102 can be used to exit long. Re-enter long if the close is above 102.
Vic Kumar: What is your call on Housing Development Finance Corporation (HDFC)?
Hitendra Vasudeo: Accumulate at 778-746-714 range as the opportunity arises. Currently correction is likely to be seen towards the lower level.
Rise may continue above 882.
Extreme near term to short term traders can exit long on rise to 809-882 range as the opportunity arises. Lower range can be used to accumulate the stock.
Rohit Vadak Deshmukh: What about Hindalco Industries?
Hitendra Vasudeo: Exit long on rise from current price to 138 as the opportunity arises for near term to short term. Traders can buy above 138.
Medium term to long term investors may accumulate at 119 or below with a stop loss of 100. Add further on rise and close above 138.
Syed Moinuddin: What is your call on Bharti Infratel?
Hitendra Vasudeo: Data is less therefore only trading view can be given.
Buy above 211 only with a stop loss of 200.
Madhavi Km: What is your view on Reliance Capital?
Hitendra Vasudeo: Exit long position at current level. Correction down to 421-394-368 can be used to accumulate if the opportunity arises in days to come.
Prabhat Manohar Tamhankar: What about Suzlon Energy?
Hitendra Vasudeo: Suzlon if long then keep the stop loss at 16.75
Buy above 21 with low of the day stop loss or 16.75 whichever is lower.
Bruno Dsouza: Is it the right time to buy Marico?
Hitendra Vasudeo: Hold long position if any with a stop loss of 216. Not the best time to buy.
Vishnu Mohan: Can I buy South Indian Bank now?
Hitendra Vasudeo: Exit long and take profits at current price or above .
Accumulate at 25.79-24-22 as and when the opportunity rises. Overall stop loss 17t
Sam Nanwani: What about Central Bank of India and Housing Development and Infrastructure (HDIL)?
Hitendra Vasudeo: HDIL accumulate 101-94-87 as and when the opportunity arises. Extreme short term traders can exit long at current price to 123. Traders can buy above 123 with low of the day stop loss or 100 whichever is lower for short term to near term.
DISCLAIMER: Trading and Investments decision taken on our consultation are solely at the discretion of the traders/investors. We are not liable for any loss, which occurs as a result of our recommendations. While we are not soliciting any action based upon this information. Neither, Hitendra Vasudeo, Vasudeo Investments, www.stockmechanics.com, nor any of its employees shall be responsible for the contents. We, may from time to time, have positions in, or options on, and buy and sell securities referred in our reports. Technical view for buying and selling are based on probability. We do not know about result which we expect, will deliver or not. Therefore, stop loss is given to minimize risk. Violation of stop loss or change of trend may lead to heavy losses, so following stop loss is essential. Those who cannot manage risk well and cannot follow stop loss please don't implement the view provided. they are only a guide and to provide an idea and not end in itself to make money. Every person who intends to follow the view and indication has to manage your own risk and has to understand the loss that can incur if the view fails to materialise as indicated.