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Jun 08, 2012, 09.15 AM IST
On CNBC-TV18's show Super Six, market gurus Shardul Kulkarni of Angel Broking, Arunesh Madan, Founder and Director of Augment Investment Pvt ltd and Rajesh Jain, EVP Retail Research, Religare Sec, place their bets on two stocks each, thus offering investors a variety of options to choose from.
The first stock that we will recommend for today is ICICI Bank June Futures. The banking stocks have been doing very well in the last few trading sessions and we expect the positive momentum to continue. Thus we recommend buying ICICI Bank June Futures at the current market price with a stop loss of Rs 810 and a target price on the upside of Rs 870.
The second stock that we would recommend for today is LIC Housing Finance . In case of yesterday’s trading session the stock has corrected, but however we feel that a reversal is on the cards and the stock is expected to move on the upside. Thus we recommend buying LIC Housing Finance at the current market price. Place a stop loss of Rs 232 on a closing basis. We expect the stock to move to around Rs 260-265 in the next eight to ten trading sessions.
Buy Reliance Infra closer to level of Rs 480 with a stop loss being placed below Rs 475 levels on a closing basis. The stock has seen a very good rebound from highly oversold zone and has given a breakout above the Rs 478 levels in yesterday’s trade. Look for a target of Rs 495 in the next one or two trading sessions.
I have a sell call in Tata Motors at the current market price with a stop loss being placed above the Rs 242 levels on a closing basis. The stock has seen very good rebound, a countertrend rally, in the last two trading sessions. There is a very strong resistance for the stock around Rs 240. Short this stock, keep a stop loss above Rs 242 and look for a target of Rs 230.
Exide Industries is one stock which has broken out of its range on the higher side. One can buy the stock keeping a stop loss of Rs 126 for an immediate target of somewhere around Rs 134.
One can buy Bajaj Hindusthan at any correction near Rs 27 keeping a stop loss of Rs 26 for an immediate target of around Rs 30.
Tags: Shardul Kulkarni of Angel Broking, Arunesh Madan, Founder and Director of Augment Investment Pvt ltd, Rajesh Jain, EVP Retail Research, Religare Sec, ICICI Bank, LIC Housing Finance, Reliance Infra, Tata Motors, Exide Industries, Bajaj Hindusthan
May 22 2013, 10:28
- in Technicals
May 22 2013, 10:44
- in Economy