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Weak market: Get expert stock advice here

Moneycontrol.com got Hitesh Sheth, technical head of Prabhudas Lilladher to answer the stock queries you sent us on our Facebook page as part of Know Your Investment (KYI). Check out his comments.

May 05, 2012 / 16:55 IST
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The Indian stock market is in a bad shape now. The Nifty has broken the 5,100 mark. Domestic and international uncertainties are weighing the market down.

Moneycontrol.com got Hitesh Sheth, technical head of Prabhudas Lilladher to answer the stock queries you sent us on our Facebook page as part of Know Your Investment (KYI). Check out his comments. Bhavesh Jain: What is your view on GAIL?

Sheth: The trend is weak and next support is near 285-290. Sell on rally near Rs 345. Vikram Goyal: What's the future of Central Bank?

Sheth: The stock is going to move in range of Rs 110 on upper side and Rs 85 on lower side. As long as Rs 85 is held, the strength will be intact. If 110 is crossed decisively then it can go up to Rs 138. Take bullish view in longer run. Stabak Das: What is your view on Indian Overseas Bank & Ruchi Soya?

Sheth: IOB, last support is Rs 78, below which the stock will turn bearish. On the upside, Rs 110 is possible in the short to medium-term. Take bullish view in the longer run. Ruchi Soya, the view is bearish. Sell at every rally. Kishi Makhija: Is TCS a 'buy' now?

Sheth: The stock is an out-performer and is scaling higher in weak market. I am bullish on this stock. Buy at every decline for the longer term. Support is strong near to Rs 1,200. Upside target is Rs 1,450. Harikrishnan T Nair: What is your opinion on BHEL, Yes Bank and IDFC?

Sheth: BHEL is in mess and heavy short built-up. Do not venture for investment till stability is seen, which can be visible above Rs 235. Yes Bank has topped out for the time being near Rs 385-388 levels and is not likely to cross that in the near future. On the downside, it can go to Rs 300 and even lower to Rs 275. But in the long-term, I am bullish. It is a good investment stock and can go up to Rs 400 and Rs 475 in the longer term. IDFC's price is coming near the important support of Rs 102. It is good investment stock and can go up to Rs 165 and above. Buy in decline near to Rs 102. CA Ankit Jain: What is your call on Arvind. in the short-term?

Sheth: The stock is better off in the short term with good support at Rs 80. In better market condition, it can go up to Rs 105 again. Prashant Singh: What's your opinion on Exide Industries and Delta Corp for two-three months period?

Sheth: Exide Industries, last support is at Rs 110. Crossing of Rs 130 will take price to Rs 150. This stock is for trading only. Delta Corp is in bad shape. Sell at every rally. Some strength will emerge only if Rs 65 is crossed decisively. Joyal Dsouza:  What's the potential of Satyam Mahindra?

Sheth: Satyam Mahindra is turning bearish with resistance of Rs 82. It can go down to Rs 65 or even lower. Sajith Bhaskaran: How is HDFC?

Sheth: The stock is moving in narrow range between Rs 600-725. In weak market also it is not falling down much. It is an ideal investment stock and not for trading. Still one can buy at Rs 650 for a pullback rally. _PAGEBREAK_ Kanchan Laha: What is your view on Kingfisher Airlines?

Sheth: It is a gone stock. Avoid it, if possible. Ashish Chhabria: What has happened to MCX? Why is it going down so fast?

Sheth: IPO was not cheap and hence selling is coming at every rally. Avoid buying till stability comes. Arijeet Mukherjee: I am holding HDFC Bank. Is it right time to sell it?

Sheth: HDFC Bank is a very good stock for investment as well as trading. But as of now it is likely to top out near Rs 550. If bought for trading then sell. You may get it at Rs 520 or lower. If holding for investment then do not disturb it. Navraj R. Aukhale: What is your call on Sesa Goa. Is it right time to sell?

Sheth: Sesa Goa, trend is weak. Sell at every rally with resistance of Rs 193. Downside potential is Rs 165 and if broken then can go further down to Rs 135. Alap Shah: What is the future prospect of Educomp Solutions?

Sheth: Educomp trend is very weak. The earlier low of Rs 168 can be broken and can go down to Rs 155. Sell on rally as resistance at Rs 200 is very strong. Santanu Mukherjee: I have 250 shares of ICICI Bank at Rs 875. What should I do now?

Sheth: ICICI Bank can find some support near Rs 800 and then near Rs 750 where one can go for investment buying. Right now, for trading, sell on rally with resistance near Rs 880.
first published: May 4, 2012 03:09 pm

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