Technical analyst VK Sharma is bullish on HDFC, Mukand, Maruti Udyog and discusses Eveready Industries, Mcleod Russel, Sesa Goa, SPIC, HLL, Infosys, ONGC, IPCL, Bharti Telefilms, India Infoline and IL&FS.
Excerpts from an interview with Technical analyst VK Sharma:
On HDFC:
When the Sensex was at around 7000 points the HDFC stock was quoting at Rs 942 levels. And now with the index touching 8000 points, it could add another Rs 50-75 from here on.
On ONGC:
ONGC meets with resistance at Rs 1030 levels and if it is able to cross Rs 1035 levels then it could rediscover value for itself.
On IPCL:
The break out has already happened and value has been discovered by investors. For the monthly chart the next level for IPCL would be around Rs 241 levels and if it closes above these levels then we can look forward to another Rs 100 rise from there.
On Bharti Telefilms:
Bharti Telefilms will not be in the market for long at Rs 334 levels. So at these levels, it is a buy. It could add another Rs 20, but that is a guess and not based on any technical support.
On India Infoline:
I think there is a gap which has been left between the levels of Rs 148 and Rs 154. India Infoline could go all the way up to around Rs 190 levels and then it could get into a reversal mood. Any body who wants to enter the stock could look at around Rs 150 levels.
On Eveready Industries:
Eveready Industries has lapped almost Rs 45 since August 18. It might face resistance at around Rs 135-136 levels, where long term investors might book profits. The stock has support at Rs 110 levels on the lower side and one can enter at these levels.
After consolidating for the last seven sessions at around Rs 70-80 levels, there was a break out today. And this can be expected to last at least 2-3 days. McLeod Russel will have good support at Rs 84 levels and it can go up to Rs 95 levels. I own this stock.
On Mukand:
Mukand may touch Rs 120 levels in the next couple of weeks. It had a good break out at Rs 95 levels. And there was an intra day spike here around Rs 76 levels, so you have to take Rs 100 levels as a stop loss.
On Maruti Udyog:
Maruti Udyog had good consolidation at Rs 575 levels and we can look forward to a positive closing till the derivatives expire this month. So there is a chance to add another Rs 15 from here on.
On Sesa Goa:
The next resistance for Sesa Goa is Rs 882 levels which is very much achievable in the opening tomorrow.
On SPIC:
After seeing a high of Rs 34, SPIC has given a break out. SPIC can go all the way to Rs 39 levels on Monday.
On HLL:
HLL has made a double bottom around Rs 159 levels. Although it didn't move much higher today, the close above Rs 175 levels puts the stock on an escalator.
On Infosys:
In Infosys , the movement isn't much but it has continued to move in a sideways pattern. Any break out above Rs 2475 levels will be its' stop loss. And get back into the stock once it crosses these levels.
On IL & FS:
IL & FS is one stock which after absorbing all the selling from the IPO it has now moved into stronger hands and one can see further value in this stock in the coming weeks. I own this stock.
