|
IST
The markets ended lower on huge profit booking in technology and banking stocks. The Sensex ended down 115 points. Pharma and auto also closed lower. Technical analyst, Sudarshan Sukhani, sounds positive about Infosys, TCS, HCL Technologies, Hindustan Motors, Bombay Dyeing, Essar Steel, Ashok Leyland, Zee Telefilms and Pratibha Industries.
Among stocks to watch, technical analyst, Sudarshan Sukhani sounds positive about Infosys, TCS, HCL Technologies, Hindustan Motors, Bombay Dyeing, Essar Steel, Ashok Leyland, Zee Telefilms and Pratibha Industries.
This is how technical analyst, Sudarshan Sukhani views different stocks across the board:
The supports came around Rs 750, but one cannot be precise. So if someone is looking for investing in Satyam Computer Services , then one is getting it at least at Rs 130 cheaper. On Wipro, Infosys, TCs and HCL Technologies: I like Wipro to some extent. But Infosys Technologies , TCS , HCL Technologies are my favourites. On Hindustan Motors:
Hindustan Motors has been going up and it is good for all who own the stock. Bombay Dyeing and Manufacturing Company is not surprising, but I am upbeat on the stock. Maybe it is just a beginning of a bull move.
Essar Steel has been going up, and at least there is some suggestion that it could keep on going up. On Tisco and Sail: Tisco & Sail are confounding everyone. I do not think I would buy them. But I maybe wrong, they may keep on going up. But this is not a good time to buy all stocks consolidates, all stocks go through corrections. It is better to wait for that. On Hindustan Lever: I was assuming that Hindustan Lever is going to consolidate in Rs 30-40 range. Every time Hindustan Lever goes through a correction, buy and then get out at Rs 30-40 or Rs 20 gain. But I do not see Hindustan Lever making new highs and crossing Rs 300 soon enough, that seems unlikely to me. On Ashok Leyland: Ashok Leyland was consolidating for many days now, finding support and then going up and getting some resistance. It is not just pushing against resistance, but ready to breakout to new highs. Assuming the market remains cheerful and up, Ashok Leyland is ready for new highs and maybe even more than Rs 50. On Zee Telefilms: Zee Telefilms has broken out of that Rs 200 mark. Currently, it is consolidating. Investors should buy it if they do not have it, traders should see this consolidation as an opportunity to enter into trading long positions. On Ranbaxy Laboratories: I am not as upbeat on Ranbaxy Laboratories , but it has been consolidating because it probably needs lot more consolidation to do what Dr. Reddy’s Laboratories has done earlier. It is still a buying opportunity, only when it dips and it’s been doing that regularly. On Pratibha Industries:
I have taken a look at Pratibha Industries and found that Pratibha Industries is more of an infrastructure story as it has the potential of moving much more. On S Kumars Nationwide, Vardhaman Spinning & General Mills and Precot Mills : I don’t like S Kumars Nationwide as such. I think that some of the spinning and other smaller textile companies like Vardhaman Spinning and General Mills and entire group, Shiva Textile or Precot Mills are breaking out after corrections. On Sterlite Optical: For Sterlite Optical , one needs to wait for big declines before entering into this stock. That may or may not come. On BOC India: BOC India was a buying opportunity when it was in the Rs 160-170 range. I don’t know how much more it will go, but I have no opinion on it now. Disclosures: I own long positions in the Nifty futures and some long in F&Os.
|
 From DJ EU Officials Spain Aid Cap Of 100 Bn Euros 'should Be Enough'  The latest earning numbers FIRST on CNBC-TV18
News Videos
|
On Satyam Computer Services:
