Both the Nifty and the Sensex recorded 29-month highs last week. But there was not a single celebratory beep from the market. This cynical attitude is hardly surprising given the numerous attempts made by the benchmark to ‘break out' ...
Investors with a two-year horizon can buy the shares of Wipro, a leading software services and hardware player, given the revival in volumes (person-months billed) in its IT services business and strengthening domestic presence (IT products) ...
Investments with a one-two year time horizon can be considered in the stock of Punjab National Bank (PNB), as the bank despite its size, holds strong growth prospects. The overall pick-up in credit growth augurs well for PNB, which has ...
Disappointing results over several quarters and the sharp run-up in the stock of ABB after the announcement of an open offer, have resulted in the stock trading at very steep valuations, far higher than peers and not supported by ...
The stock of Hindustan Petroleum Corporation Limited (HPCL), the government-controlled downstream oil refining and marketing major, has run up sharply since the fuel pricing reform measures late ...
Investors with a high appetite for risk and a two-three year perspective may buy the stock of Simplex Infrastructures, a diversified construction contractor. Our previous buys on this stock were at Rs 137 in January 2009 and at Rs 415 ...
Results so far have only managed to pleasantly surprise the markets. While there is no telling what the next week's result announcements would entail, trends in index option trading hint at a range-bound market. Most of the open interest ...
I have bought Prakash Industries at Rs 182 and I wish to purchase more. How will it perform in the long-term? Hamir ...
GAIL India: (Rs 440.8): The stock has been moving in a one-way direction – upwards – in the last five months. However, it recently met with resistance after registering its all-time high at ...
The stock posted only marginal gains of Rs 7 last week. It therefore continues to trade in a narrow band between Rs 1,050 and Rs 1,100 since June 14. The daily volumes continue to decline. After encountering resistance near our first ...
In early sessions of last week, Axis Bank surged in anticipation of first quarter results. This up-move prolonged following its Q1 results announced on July 15, which were better-than expectations. The stock advanced 2.4 per cent with good ...
3 weekly technical picks from Edelweiss
Source: IRIS (17-JUL-10)
Following are the weekly technical picks from Edelweiss Securities:
Yes Bank
Buying is recommended at current market price (CMP) of Rs 299.5 with target of Rs 320 and stop loss of Rs 288.
Rationale for call: Stock has broken out its key resistance of Rs 295 placed on its daily and weekly chat. Oscillator on weekly chart depicts bullishness with RSI, Stochastic and MACD continued its uptrend after generating bullish crossovers.
Parsvnath Developers
Buying is recommended at CMP of Rs 135 with target of Rs 145 and stop loss of Rs 130.
Rationale for call: Stock has given channel breakout on its weekly chart along with above average volumes. Oscillator on weekly chart depicts bullishness with RSI, Stochastic and MACD generating bullish crossovers.
Aurobindo Pharma
Buying is recommended at CMP of Rs 1004.7 with target of Rs 1060 and stop loss of Rs 969.
Rationale for call: Stock has broken out its key resistance of Rs 990 placed on its weekly and daily chat. Further, stock has made fresh life high in last trading session with positive bias accompanied by above average volumes. Oscillator on weekly chart depicts bullishness with RSI, Stochastic and MACD continued its uptrend after generating bullish crossovers.
Yes Bank
Buying is recommended at current market price (CMP) of Rs 299.5 with target of Rs 320 and stop loss of Rs 288.
Rationale for call: Stock has broken out its key resistance of Rs 295 placed on its daily and weekly chat. Oscillator on weekly chart depicts bullishness with RSI, Stochastic and MACD continued its uptrend after generating bullish crossovers.
Parsvnath Developers
Buying is recommended at CMP of Rs 135 with target of Rs 145 and stop loss of Rs 130.
Rationale for call: Stock has given channel breakout on its weekly chart along with above average volumes. Oscillator on weekly chart depicts bullishness with RSI, Stochastic and MACD generating bullish crossovers.
Aurobindo Pharma
Buying is recommended at CMP of Rs 1004.7 with target of Rs 1060 and stop loss of Rs 969.
Rationale for call: Stock has broken out its key resistance of Rs 990 placed on its weekly and daily chat. Further, stock has made fresh life high in last trading session with positive bias accompanied by above average volumes. Oscillator on weekly chart depicts bullishness with RSI, Stochastic and MACD continued its uptrend after generating bullish crossovers.
Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.
Src: Myiris, Et and Businessline etc
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