Stocks to watch:Relience, ACC

Among the stocks to watch, technical analyst, Anil Manghnani from Modern Shares and Stocks Brokers is positive on Relience, ACC, and GMR Infrastructure

This is how technical analyst, Anil Manghnani views different stocks across the board:

On ONGC:

Among the largecaps, I think ONGC could still pull on another Rs 25-30 odd up to Rs 860; that could be a nice one. ONGC is important for the Sensex; it hasn’t really participated in the last 3-4 months, so it’s good to see ONGC trading above Rs 800.

On Reliance :

Rs 1305-1310 is an immediate resistance, so we have to wait and watch, if we can cross that.

On Gujarat Ambuja and ACC :

Gujarat Ambuja has been at Rs 115-120 for about two months now. ACC has traded at Rs 970-990 range for a about 1-1.5 months. So lots of positions have been built up. 

On AIA Engineering :

AIA has really run up since May, I think it’s a good time to book profits. But again, now any fall would warrant a buy.

On Siemens :
There is still some strength left in them. For Siemens, the immediate gain of Rs 1,310 doesn’t sound too much, but if it can take out Rs 1,310 then I think the next move could be a little more significant.

On L&T :
 
L&T also looks okay,  I don’t know where it closed at, but if it breaks Rs 1,347 the next trading technical target is around Rs 1,410. So there is still some trading opportunities left.

On GMR Infrastructure :

GMR Infrastructure is moving up smartly. Rs 344 was the first target, after that was Rs 370. So there is still some upside left, but no fresh buying at this point, probably just ride the current rally.

On Zee Telefilms :

Zee Telefilms also has been strong for a while. Though it didn’t participate in the last 2-3 weeks, it has bounced back smartly. Rs 329 is the immediate target,  if it can take that out, then it’s headed towards Rs 355-375 levels.

On Bharti Airtel :

Bharti is still very strong and now that it has crossed Rs 540 and trading above that. You are seeing that even after a new high is taken out because the last May high for Bharti was around Rs 432, today we are at Rs 550 odd, that’s a significant move in a large cap stock.