Real-time Stock quotes, portfolio, LIVE TV and more.
May 08, 2012, 12.53 PM IST
Bull's Eye, CNBC-TV18's popular game show, where market experts come together to dish out trading strategies for you to make your week more exciting and compete with each other to see whose portfolio is the strongest.
Remember these are midcap ideas not just for the day, but stocks that look attractive in the medium-term as well.
This week, Aashish Tater of Fort Share Broking, Pankaj Jain of Sunteck Wealthmax and Nooresh Merani of AMSEC Research battle it out for top honours.
Aashish Tater, Fort Share Broking
I am going long on Future Capital Holdings . If you see the trading pattern of the stock, the stock finds support somewhere around at Rs 126-127 odd mark and goes weak around at Rs 142-145 odd mark and this has been range bound for quite sometime now. There is a strong market buzz that the company promoters would be exiting partly of their holdings at much higher premium. Given the technical pattern, it’s very near to its support levels. Thus one can go long on this particular stock with a closing stop of around Rs 124.50.”
Buy JSW Energy for a target of Rs 52 odd mark. From next three to four days perspective we feel JSW Energy would see some significant buying if Rs 46.50 on closing basis is not tripped. Thus a stock on risk reward perspective gives decent chance of good risk reward ratio that one can go long on a rupee stop loss for almost Rs 4-5 gain.
Buy Deccan Chronicle Holdings for a target of close to Rs 40 odd mark. As we suggested this particular stock has got some short-term pain, but have got quality assets in its balance sheet, we feel the stock could go and test that Rs 40 odd mark in today’s trade. There has been some last moment buying which the stock stops and we feel there could be an upward momentum even in today’s trade.
I am going short on TTK Prestige for a target of Rs 2,805 with a closing stop of around Rs 3,165, the rationale being the same that we feel this stock is terribly overpriced and now with poor results defying the market expectations we feel the stock would see some significant lower levels, thus a candidate that can be shorted on any rise and even at current levels.
Nooresh Merani, AMSEC Research
Buy Bharat Forge with an intraday target price of Rs 345 and a short to medium-term target price of Rs 360. If you look at the stock, it has shown a lot of resilience as well as holding in falling markets. The stock is on verge of a triangle breakout which comes around Rs 332. It has seen a lot of attempts over this resistance from the last few days. I would expect the stock to give a breakout over the next one or two sessions and head up to Rs 345. One can keep a stop loss around Rs 320 for this trade.
Buy HPCL with a short-term target price of Rs 330 and a stop loss to be placed at Rs 300. If you look at the stock, the stock has been basing out from the few days. It has a breakout level around Rs 306-310. Yesterday the stock made an attempt to cross above Rs 310 levels and closed around Rs 306-307 and given the fact we have seeing a technical breakdown on crude, I would expect oil manufacturing companies to do well over the next couple of weeks.
Buy Arvind with a target price of Rs 95 in the day and a short-term target price of Rs 110. If you look at the stock it gave a breakout above Rs 82 levels a few days back. The stock has sustained well over the last couple of days as well as there is a huge volume surge compared to the general average volumes. The stock may catch momentum above Rs 91 and could head up to Rs 95 in the day.
Buy Hindalco with a medium-term target price of Rs 140 and an intraday target price of Rs 122. If you look at the stock it has made a lot of bottoms in the band of Rs 108-112 over the last six to eight months. Recently a bottom was seen around Rs 112 levels in December. The stock tested similar levels yesterday. So if you look at the risk reward at current juncture you just have a risk of Rs 3-4 and the upside could be Rs 20. One can take a bet at current levels expecting a good up move over the next few sessions.
Pankaj Jain of Sunteck Wealthm
Buy MindTree with a stop loss at Rs 582, target price of Rs 614. What was happening in the stock I think it was internal friction of the core promoters which was keeping the stock subdued. Mr Ashok Soota having exited from the company the stocks of Mr. Soota which was creating pressure on the stock price I think they have been absorbed by the market and it has been absorbed by some stronger NRI, appetite for the stock is still very strong. I believe the stock on a very short-term on next three-four weeks basis could be more than 10% from current level.
Vinati Organics is a specialty chemical company based in Mumbai and this is one of the larger producers of raw material for Ibuprofen and we have seen that this stock has moved in a leaner fashion from levels closer to Rs 60 to levels closer to more than Rs 90. The company is coming out with results next week and results are expected to be pretty robust and the kind of volume pattern we have seen, the kind of price volume pattern we have seen I think this momentum should continue and taking that into considerations we have gone long on intraday target price of closer to 99.75.
I have gone long on KPIT Cummins . I think the kind of vertical movement we have seen in this stock, vertical rise of closer to 45-50% in last five-six trading sessions this stock is doing exceedingly well and the kind of volume pattern we have seen in the last four-five trading sessions very strong volumes, company is doing well, results of the company for last two-three quarters have been good, company is growing at levels closer to more than 30%. So the movement suggests if one could hold the stock for next six months, it has potential of giving another 25-30% return from current levels. However for the day my target price is closer to Rs 127.
Buy BPCL with a stop loss at Rs 677 and target of Rs 703 for the day. We have seen the stock moving and it moved by about 4-5% yesterday and we have seen a sort of mini structural breakdown in crude over weekend. Yesterday also we have seen crude falling by about 2-2.5% and apart from that the fall in dollar which was creating additional pressures on all these oil marketing companies even dollar has shown signs of easing out. So that is adding to the potential performance of the company.
Tags: Future Capital Holdings, JSW Energy, Deccan Chronicle Holdings, TTK Prestige, Bharat Forge, HPCL, Arvind, Hindalco, MindTree, Vinati Organics, KPIT Cummins, BPCL
Action in Capital First
Jun 18 2013, 22:39
- in MARKET OUTLOOK
Jun 18 2013, 22:39
- in Business