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Last Updated : Nov 01, 2011 06:01 PM IST | Source: CNBC-TV18

Bull's Eye: stocks you can bet on Nov 1

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


This week, Aashish Tater of Fort Share Broking, Nooresh Merani of AMSEC Research and Abhishek Agarwal of Fortune Interfinance battle it out for top honours.


Below their top stock picks and analysis:


Aashish Tater of Fort Share Broking


I would like to short Steel Authority India for an intraday target of Rs 110.50. Basically this has been a short right from Rs 157 mark. We continue to hold this particular short because we feel that the profitability that the company will be coming up in next few quarters would not justify its current valuation. The stock had a breakdown right from Rs 120 to Rs 123 mark. What we feel that there could be a resistance. People who are looking for a medium term target of close to Rs 80 should keep a strict stoploss of Rs 123.50 on closing basis.


I would like to go short on Tata Motors. The stock could face a resistance close to Rs 207-208 mark and we feel that there will be global weakness overnight, which should see high beta counters getting corrected. I am shorting this for an intraday target of Rs 193.80.


Parsvnath has an intraday target of Rs 83. I feel this particular stock has got good momentum. One who is looking for a target of Rs 100, should keep a stoploss of around Rs 70 and should be riding on their position from next 30 to 50 days perspective.


I would like to short Reliance Capital because we feel it is near to its resistance of close to Rs 382 mark. I am shorting for an intraday target of close to Rs 355-358 levels. But I feel the stock could again go and test Rs 330-320 mark in the days to come.


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Nooresh Merani of AMSEC Research


Buy Tata Coffee with a target price of Rs 960 and a stop loss placed at Rs 885. The stock has been holding nicely in the last few months. If you look over the charts for the last few months, it has been consistently facing resistance in the band of Rs 920 to 940. I expect the stock to cross the Rs 940 barrier and head up to Rs 1000 in the medium term. So buying around Rs 900-920 gives a good risk reward.


Buy Gateway Distriparks. The stock has given a huge breakout from a 2-3 year pattern at Rs 135-140 levels. The stock has been holding well to this zone and now it is on the verge of special move all the way to Rs 180-190 in the short term. I would expect the stock to be in a accumulate zone between Rs 140-150 with a target price of Rs 180 to Rs 190 in the medium term. My intraday target for the stock is Rs 160 keeping a stop loss at Rs 144.


Buy Amtek India. The stock has been making consistent higher top, higher bottom formation in the current market. Recently after a small dip it has headed back towards new 52 week highs. I would expect the stock to touch a target of Rs 151 for the day as well as Rs 160 plus in the medium term. One can keep a stop loss at Rs 139.


Buy Zylog Systems. The stock has been in a range of Rs 380-440 on the higher side for a long time. Right now it is not close to breakout but it would be like preempting this move. I would expect the stock to break out above Rs 440 in the next couple of weeks. Once it crosses that the next target price comes to around Rs 480-500.


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Abhishek Agarwal of Fortune Interfinance


Dena Bank - took a long on the counter with a target of Rs 85 and a stop loss of Rs 78. Yesterday the bank had given very good results and at a book value of 105, the current price of Rs 80 is trading at about 20% of discount therefore the upside remains very humongous.


I would like to go long on Havells India with a target of Rs 375 and stop loss of Rs 350. Yesterday Havells had given good set of results and it was one of the best results in the last four quarters. Therefore with expected Rs 20 of EPS, if multiple is given I think it will translate a valuation of about Rs 440. So the long-term view is intact and should remain a buy over long-term portfolio.


Jet Airways has target price of Rs 270 and stop loss of Rs 250. I think 26% of FDI participation in the airline sector would benefit Jet Airways for a very long term.

I would like to go short on Jubilant Foodworks with a target of Rs 780 and a stop loss of Rs 830. I think the valuations are extremely on higher side and I don

First Published on Nov 1, 2011 12:08 pm
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