HomeNewsBusinessStocksBull's Eye: Buy Reliance Infra, Educomp, Titan

Bull's Eye: Buy Reliance Infra, Educomp, Titan

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.

June 08, 2012 / 12:06 IST
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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 are midcap ideas not just for the day, but stocks that look attractive in the medium-term as well. This week, Rakesh Gandhi of LKP, Aashish Tater of Fort Share Broking and Nooresh Merani of AMSEC Research battle it out for top honours. Rakesh Gandhi, LKP Shares Buy TTK Prestige. Yesterday the stock has seen a very sharp upmove after a breakout from a falling wedge pattern. The volumes are also very heavy and hourly charts also indicate that momentum has been picking up and hence the stock can be bought for a target of Rs 3050 with a stop loss of Rs 2875. Buy Reliance Infra, the stock has remained in a tight trading range since last 3 weeks below Rs 480. Yesterday it has moved above that tight trading range and also above Rs 480 with good volumes. Short term charts are indicating that there is further momentum to be seen in the stock and hence can be bought for a target of Rs 505 with stop loss of Rs 474.50. Buy Rallis India. The stock has been in a sideways kind of move since last 6 months. Yesterday it has moved above its 200 days exponential moving average with good volumes. The stock is also making higher highs and higher lows indicating that it could see higher levels may be up to Rs 150 but for today my intraday target for the stock is Rs 138.5 with a stop loss of Rs 131.80 Short Titan Industries. The stock has broken below its 12 week low and has also broken 200 days exponential moving average and has bounced back above that but failed to remain above that in last two days. When the market was moving up in last 3-4 days it has failed to move in an uptrend. Hence it can be shorted with a stop loss of Rs 217 and a target of Rs 206. Disclosure: I don't have holdings in any stocks discussed but may have recommended them to clients. _PAGEBREAK_ Aashish Tater, Fort Share Broking I am going long on Bajaj Hindusthan. It’s a technical buy from our end. We felt with last minute buying into sugar stocks there might be some possible outcome or development in today’s trade. Thus we are going long on Bajaj Hindustan I am going long on Balrampur Chini for a target of close to Rs 51 odd mark. We feel Balrampur Chini is the best stock among its peers and if there is any positive momentum in today’s trade in sugar stocks this would also rally along with its peers. I am going long on Educomp for a target of Rs 145. We feel market has overshadowed its results and now there is a chance or short covering into the stock and thus this can be a very good bet from a short-term perspective where targets of Rs 155 also looks achievable with a closing stop of around Rs 136.85. However for intraday trade go long on this particular stock for a target of Rs 145 with a stop of around Rs 137. I am going long on Sintex Industries where we feel the fundamental value is much higher than current levels. However stock has been overshadowed because of the FCCB which is due sometime next year, but we feel the stock would stabilize because we feel with Rs 5,000 crore odd of top-line next year the stock deserves much better valuation for equity shareholders and the FCCB overhang could easily be replaced with ECB because this is one company which we feel has got tremendous potential in days to come. Disclosure: I don't have holdings in any stocks discussed but may have recommended them to clients. _PAGEBREAK_ Nooresh Merani, AMSEC Research

Buy DLF with an intraday target price of Rs 200 and a short term target price of Rs 210, a stop loss to be placed at Rs 187. If we look at the history of the stock every time it goes to Rs 170 it bounces back. This has happened almost three to four times over the last one year. After hitting Rs 170 recently the stock has bounced back and crossed its intermediate high at Rs 192. So we would expect this momentum to carry forward over the next three to four sessions. So this would be a very quick trade keeping a strict stop loss at Rs 187.

Buy Canara Bank with an intraday target price of Rs 425 and a short term target price at Rs 460. Continuing with my bullish stance on the stock and the stock has been closing well for the last couple of days we can expect the stock to head up to Rs 425 over the next few sessions. One can keep a stop loss at Rs 405 for this trade.

Buy Crompton Greaves with target price of Rs 125 in the day and a short term target price at Rs 130-140. The stop loss would be now revised towards Rs 114. I continue to like the stock and yesterday the stock has closed well above its breakout point at Rs 116. Also it is a long term bottoming out story so we would even expect much higher levels over the next 6-12 months. The volumes are started picking up and we would expect momentum to come over the next few days. Any dips to Rs 115-116 would be a buying opportunity for the stock.

Buy McLeod Russel with an intraday target price of Rs 300 and a short term target price at Rs 320, the stop loss to be placed at Rs 275. The stock has closed well above its breakout point at Rs 280. For the last two days the stock has been consolidating and we could expect the stock to jump up over the next few sessions itself. Any dips to Rs 280-285 would be a buying opportunity. The stock may even head up to Rs 360 plus in the long term.
first published: Jun 8, 2012 11:52 am

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