Jun 11, 2013, 11.08 AM | Source: CNBC-TV18
Vishal Malkan of malkansview.com recommended a sell on ICICI Bank with a stop loss of Rs 1135 and for target of Rs 1115-1100.
Vishal Malkan, malkansview.com
ICICI Bank has closed below the important support of Rs 1130 with good volumes. Price has started tagging the lower bollinger band on hourly charts. I recommend a sell with a stop loss of Rs 1135, for target of Rs 1115-1100.
Banking has been underperforming since last couple of days. Axis Bank has entered bearish zone of the daily charts. I recommend a sell with a stop loss of Rs 1380 and target of Rs 1335-1320.
Arunesh Madan, Augment Investment
After trading below its 15 days moving average Wipro has broken out of that moving average placed on its daily candlestick charts in yesterday’s trade. Look to buy this stock at the current market price with a stop loss being placed below Rs 339 and going forward we can expect a target of Rs 348-355.
Reliance Industries has got a very strong support closer to a level of Rs 780 and the stock has rebounded multiple times from that level in the last couple of days. Look to buy this stock in the region of Rs 785-789, keep a stop loss below Rs 779 on a closing basis and going forward we can expect a target of Rs 798-805.
Gaurav Ratnaparkhi, Sharekhan
I have a buy call on HCL Technologies . The stock has recently completed a short-term correction, it retraced 61.8 percent of the previous rise and from that key level it has started a fresh move on the upside. The daily momentum indicator has given a fresh buy signal and on the upside the stock has crossed its crucial daily moving averages. So one can buy the stock at current level with stop loss of Rs 738 and target on the upside will be Rs 785. The timeframe will be two-three sessions.
Second pick is long on ACC . Since last few weeks ACC has been trading with sideways to bearish bias. In terms of price patterns the sideways activity has taken form of a bullish wedge pattern and the stock is on the verge of a breakout on the upside. Along with lower end of the pattern the stock is finding support near daily lower bollinger band. So the stock has a higher probability to form a sharp move on the upside. Stop loss for the buy call will be Rs 1198 and target will be Rs 1300 and the time frame will be three-four sessions.
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