Buy Tech Mahindra, Mahindra Satyam: Merani

Sell L&T with a target price of Rs 1350 and a stoploss at Rs 1400. The stock has made a double top around Rs 1430-1440 levels and it has broken the intermediate lows. So, we can expect a correction in the zones of Rs 1300-1350. My intraday target price for this would be Rs 1350 and given the fact that it’s a momentum trade we will keep a strict stop loss at Rs 1400.

Buy Tech Mahindra with an intraday target price of Rs 720 and a medium target price of Rs 800. The stock has given a huge cup and handle breakout around Rs 680-700 levels. The stock did move up to Rs 750 and it has been retesting those support levels of Rs 690-700. At this area it would be a good buying opportunity keeping a stop loss at Rs 685 and looking towards a target price of Rs 720 in the day and a medium target price of Rs 800 plus.

Buy Mahindra Satyam with an intraday target price of Rs 86 and a medium target price of Rs 100. Maintaining my bullish stance on the stock and given the fact that the stock is finding a lot of support at Rs 78-80 levels which is the previous breakout point we would expect the stock to continue to find support at this levels and jump up to Rs 86 anytime.

Buy Godrej Industries . The stock has made a good bottoming out formation around Rs 230 and has not fallen even in a falling market. What we see is a good support around Rs 245-250 where one can initiate a buy position with a stop loss at Rs 240, an intraday target price of Rs 259 and a medium term target price would be placed at Rs 280 for the stock.