Expert picks: Trading tips on 8 stocks
The Indian market has been rangebound for a long time now. Moneycontrol brings to you some of the recommendations given by experts that will help you cash in on the many opportunities available.
November 27, 2012 / 12:11 IST
Moneycontrol Bureau
The Indian market has been rangebound for a long time now. It started this week on a flat not on Monday. The Sensex closed up 30.44 points or 0.16% at 18,537.01. The Nifty ended up 4.30 points or 0.08% at 5,630.90.Moneycontrol brings to you some of the recommendations given by experts that will help you cash in on the many opportunities available. Stocks in news: Federal Bank, SpiceJet, LupinStocks advice for today:Sudarshan Sukhani, s2analytics.com is bullish on Larsen & Toubro (L&T). "It had a big rally and a very decent and sharp correction. It has stopped after the correction. That is a good news. The rally, which we saw in L&T, was fairly large. There was no correction. It is now beginning a new upmove. It may cross Rs 1,700 this time. L&T’s chart tells us that there is more upside," he elaborates.Sukhani is betting on Exide. "It is an interesting stock. I was upbeat on it. Then we said that okay there are signs of distribution, and let us get out. Exide fell from Rs 168 to Rs 130 because the results were not good. But a good stock cannot be held down for long. After that initial decline, for the last two months, Exide is in a trading range. It is not falling. So, it is probably building a small base from where it is willing to go up again. Initial signs of a breakout on the upside are coming. We want to take that chance and go long in Exide. If it does not work out today, it will work out in the next few days. This is a stock that is now going back to its earlier highs," he asserts. Sukhani has a 'buy' call on Apollo Hospitals. "Apollo Hospital has been in a consistent uptrend. The big move in Apollo Hospital is coming. So, traders should position themselves today itself and not get worried, if it doesn't move today, it will in the next few days," he adds. Sukhani is also bullish on Bata. "It has gone through a correction of its own. The correction is over. Yesterday, Bata had a significant upmove. That upmove came on the back of five-six days of very narrow range trading. A crossover Rs 1,000 is very likely. Position traders should also consider keeping a position or initiating a position in Bata now," he suggests.Brokerage calls:Stock: ONGCBrokerage: Credit SuisseRating: UnderperformTarget: Rs 239Rationale: At an acquisition cost of USD 5 billion, ONGC has used available cash and has committed long-term capital to a still uncertain large project which is adding little to production immediately.Stock: SBIBrokerage: MacquarieRating: NeutralTarget: Rs 2,150Rationale: Accounts worth Rs 5,000 crore are likely to get restructured over the next two quarters. This does not include the Rs 1,000 crore exposure to Suzlon, which may get admitted for restructuring in the coming months.Stock: M&MBrokerage: BarclaysRating: OverweightTarget: Rs 959Rationale: The obvious pitfall of a possible Aston Martin deal is the financial stress on M&M both in the acquisition and the subsequent investments in R&D and marketing.Stock: SAILBrokerage: CLSARating: SellTarget: Rs 60Rationale: A falling cost curve combined with rising manufacturing costs will negate benefits of the companies expanded capacities.Vini Amesar.
vini.amesar@network18online.com Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
