Moneycontrol
Get App
Last Updated : Jan 03, 2012 08:23 PM IST | Source: CNBC-TV18

Bull's Eye: Short EKC, Chambal Fert; buy Redington, HUL

Bull's Eye, CNBC-TV18's popular game show, where market experts come together to dish out trading strategies for you to make your week more exciting and compete with each other to see whose portfolio is the strongest.


Bull's Eye, CNBC-TV18's popular game show, where market experts come together to dish out trading strategies for you to make your week more exciting and compete with each other to see whose portfolio is the strongest.


Remember these stocks ideas not just for the day, but stocks that look attractive in the medium-term as well.


This week, Aashish Tater, Jagannadham Thununguntla and Sharmila Joshi battle it out for top honours.


Below their top stock picks and analysis:


Aashish Tater, Fort Share Broking


Buy Amar Remedies with a target of Rs 140 and keep a stoploss at Rs 124


Amar Remedies has the potential of testing Rs 178 in the medium-term. One should keep a closing stop of close to Rs 116 from the medium-term perspective there the stock chartically would get weak and should again go and test that Rs 80-85 odd mark. Otherwise the stock has got tremendous potential going forward too. From fundamental perspective the stocks is a definite buy even at current levels. I am going long on the stock for an intraday day target of Rs 140.


Buy Redington India with a target of Rs 82 and keep a stoploss at Rs 70


I am going long on Redington India for an intraday target of Rs 82. We saw huge volumes on the stock which were much higher than 14 days average thus we feel there could be an upside momentum and the stock should go and test its resistance of around Rs 82 odd mark.


Short Bata with a target of Rs 500 and keep a stoploss at Rs 565


I am going short on Bata India for an intraday target of close to Rs 500. Basically this particular stock was used as a concept stock related to Titan and VIP Industries. But since both the stories Titan and VIP Industries but since both the stories Titan and VIP Industries has fizzled out in the short-term we think Bata India could good amount of pain in terms of price correction. We have got a medium-term target of less than Rs 460 on the stock. So, one who is going short on this, should keep a closing stock loss of around Rs 565-568 odd.


Buy Reliance Communications with a target of Rs 78 and keep a stoploss at Rs 68


I am going long on Reliance Communication for an intraday target of Rs 78. There could be some technical development that is happening into the company as reported by various media houses. We feel if this particular development happens the stock should go and get de-rated in terms of valuations which look at distress (CHK) level. So from all point of view RComm is one stock where there is limited downside but potential upside with technical developments actually coming through. Otherwise the stock would be stuck at current range.


Jagannadham Thununguntla, SMC Global


Short Canara Bank with a target of Rs 345 and keep a stoploss at Rs 368

Sell Canara Bank with a day target price of Rs 345 on the back of government decision to increase the borrowing in the bond market by 11,000 crore should put pressure on the bond market and yields are expected to shoot up. So naturally there will be mark to market losses on the bank

Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.

First Published on Dec 28, 2011 11:32 am
Follow us on
Available On