SENSEX NIFTY
Aug 03, 2009, 05.53 PM IST | Source: CNBC-TV18

Bull's Eye: Stocks to buy today

Mitesh Thacker, Technical Analyst, miteshthacker.com, is bullish on Aban Offshore, Max India, United Spirits, and Provogue. Deven Choksey of KR Choksey Securities is betting big on Neyveli Lignite, Voltas, Mahindra Lifespace, and IDFC today. While, Rajen Shah of Angel Broking is positive on Escorts, South Indian Bank, Indian Hotels and Ceat.

Bull's Eye: Stocks to buy today

Mitesh Thacker, Technical Analyst, miteshthacker.com, is bullish on Aban Offshore, Max India, United Spirits, and Provogue. Deven Choksey of KR Choksey Securities is betting big on Neyveli Lignite, Voltas, Mahindra Lifespace, and IDFC today. While, Rajen Shah of Angel Broking is positive on Escorts, South Indian Bank, Indian Hotels and Ceat.

 

Here is a verbatim transcript of Mitesh Thacker. Also see the accompanying video.

 

On Aban Offshore

"In Aban Offshore we have just seen kind of news flow in the sense that we had results on Friday, the market reacted well and the other good thing technically is that we have seen the stock get pass the barrier of Rs 1,021-1025 mark which the stock was not able to cross for the last few days. The positive thing is that this stock has seen good open interest addition and good revenue volume numbers everyday or for the day when the prices have gone up. So that clearly means that there is recommendation happening in the stock. I think the stock is in a good weekly uptrend and we are looking at targets of around Rs 1,200 on medium-term basis but from the short-term I would assume targets of around Rs 1,100.

 

On Provogue

"I am going with a midcap stock which is very important if we are trading in a short term to have a stock which is dealing with immediate market action that could be Provogue. I have a target of Rs 56.5 for the day and this is one of the midcap picks. I think its good to have one such pick which is dealing from the market compared to the other stock picks which I have.

 

On Max India

"Max India has a good technical pattern. The stock has been buzzing around after the bulk deal and we have seen volumes pick up very well over the last few days. The stock has made a double bottom formation around the Rs 185-188 mark and now it is quoting at around Rs 200-207 levels. So I think it is a good bullish formation and prices are likely to go up. For the day we are looking at the target of about Rs 216. But overall because of the good formation and once the stock trades above Rs 216 I think there will be more upsides. Technically the trend will get stronger above Rs 216 and probably we can, people who want to trade with a one week- two week horizon can look for targets of around Rs 240 on the stock.

 

On United Spirits

"United Spirits is an F&O stock, the stock was finding lot of supply in the area of Rs 980-1,000; Rs 1,000 also being the psychological mark, we saw the stock move up and close above that level on Friday, which is a combination of weekly as well as monthly closing. We have seen good open interest additions in the stock over the past few days. I think that stock looks to have given some kind of technical breakout on Friday and I think the upside should happen over the next few days. We are looking at a day target of around Rs 1,080 with possible higher targets of around Rs 1,150 on the stock.

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