Stocks to watch: Century Textiles, Unitech, Zee

Excerpts from Closing Bell on CNBC-TV18 Watch the full show » Nifty BSE | NSE 29/05/12 Are Mutual Funds betting on Nifty? Other Stocks in this news Century Textiles and Industries | IFCI | ITC | Rolta India | Mahindra Satyam | Tata Consultancy Services | Tata Motors | Unitech | Visualsoft (I) | Wipro | Zee Entertainment Enterprises | Zensar Technologies |

The markets ended higher on the first day on the week back of broad based buying seen in scrips across sectors. The markets gradually moved upwards during throughout the day to end with some hefty gains.

 

Among stocks to watch, technical analyst, Rajat K Bose sounds positive about Century Textiles, Tata Motors, Zee, TCS, Satyam and Unitech.

 

Here's how Rajat Bose views different stocks across the board:

 

On IFCI:

 

Charts are once again showing a bounce from lower levels and with this kind of a bounce now, you have to see whether IFCI sustains above Rs 12-15-30 range. If it were to do so, then definitely you will see this move sustaining, otherwise periodically, we get to see these kinds of moves in IFCI but they tend to fizzle out after some time.

 

On Century Textiles:

 

Century Textiles is definitely showing a good momentum and it can move even further up from the current levels. Given the kind of potential it is showing, you can get another 2-3% on the upside before it has some kind of a resistance. Century Textile is a clear buy and this morning, I have already recommended a number of traders, who are my subscribers, Century Textiles futures.

 

On Ashok Leyland:

 

The crucial level for Ashok Leyland would be Rs 44 and if it trades above that, then the next target would be something like Rs 46.50-47. Rs 46.50-47 is the crucial resistance zone for Ashok Leyland and it looks as if that Ashok Leyland has already formed a short-term bottom and is actually going up from lower levels. So chances are that this might actually provide some kind of a trading opportunity in the short-term.

 

On ITC:

 

In a rangebound scenario, sometimes you will see that it is coming close to about Rs 170 levels and then getting support. Support exists from Rs 170 to about Rs 165 levels. On the other hand, whenever it comes close to about Rs 180-185 range, selling happens. So until and unless you see a clear and decisive breakout on either side of this range, that is Rs 180-185 on the upside and Rs 170-165 on the downside, it is very difficult to actually take a trading call.

 

Maybe those long-term investors looking at the prospect of ITC may actually sit through their investments, but for a trader, it does not really offer much of an opportunity. Of course, you can take intra-day trades because if there is a 4-5 points movement in ITC , that is a great deal. 

 

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