...KEEP STRICT STOPLOSS AS GIVEN
or
...TRADE AT YOUR OWN FINANCE RISK...
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MICRO TECHNICALS from BUSINESS-STANDARD:
MICRO TECHNICALS
JAIPRAKASH ASSOCIATES
Current price: Rs 238.1
Target price: Rs 215
The stock hit resistance above Rs 245 and corrected to Rs 222 before recovering. It's poised on support between Rs 230-235. If the pattern of the past 12 weeks holds, it will surge again. But on a close below Rs 230, it will dip till Rs 210-215. Keep a stop at Rs 244 and short. Increase the position below Rs 230 and book profits below Rs 215.
TCS
Current price: Rs 561.75
Target price: Rs 590
The stock has been beaten down from Rs 600 on high volumes in the past three sessions. If the support at Rs 560 breaks, it could fall till Rs 535. However, if the support holds, it could move back till Rs 590. Keep a stop at Rs 555 and go long. Increase the position above Rs 570.
RELIANCE COMMUNICATIONS
Current price: Rs 246.55
Target price: Rs 230
Selling on massive volumes has led to a sharp downtrend in all telecom stocks. If the current support at Rs 245 is broken, the next target is Rs 230, with some interim support at Rs 240. Keep a stop at Rs 250 and go short. Increase the position below Rs 239. Cover at Rs 230.
UNITECH
Current price: Rs 98.6
Target price: Rs 105
The stock has tested a support between Rs 95-100 through the last three sessions. If the support continues to hold, there should be a rebound till around the Rs 105 level. Keep a stop at Rs 95 and go long. There is a chance that the stock could exceed Rs 105 and move till Rs 110. So, consider booking only partial profits at Rs 105.
TATA MOTORS
Current price: Rs 545.65
Target price: Rs 490
The stock crashed from Rs 590 levels on Friday while being traded on high volumes. It is resting on a key support and if it closes below Rs 540, the stock could slide till the Rs 490 mark. Keep a stop at Rs 550 and go short. Increase the position below Rs 540.
Start booking profits below Rs 500.
***********************************************Morning Note - Oct 12 2009
Technical Picks - Oct 12 2009
Monthly Technicals- Oct 11 2009
Reliance Industries, India Real Estate
India Strategy - Oct 11 2009
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12 Oct 2009, 0511 hrs IST
JP Morgan maintains the `Overweight’ rating on Ultratech Cement with a revised target price of Rs 950.
12 Oct 2009, 0510 hrs IST
UBS maintains `Sell’ rating on GE Shipping and raises price target to Rs 250. The stock has underperformed the broader market over the past five months by 15% because of the downward trend in freight rates in the tanker segment.
12 Oct 2009, 0509 hrs IST
Goldman Sachs maintains `Buy’ rating on Reliance Industries (RIL) with a 12-month price target of Rs 2,620, having potential upside of 25%.
12 Oct 2009, 0508 hrs IST
Macquarie initiates coverage on Anant Raj Industries (ARIL) with an `Outperform’ rating and target price of Rs 180.
12 Oct 2009, 0053 hrs IST
NTPC offers a good defensive bet.
12 Oct 2009, 0051 hrs IST
The ADAG company is fast emerging as one of the leading infrastructure players in India, bidding pipeline over the next few years is more than Rs one lakh crore.
12 Oct 2009, 0050 hrs IST
Good defensive bet with limited downside.
12 Oct 2009, 0049 hrs IST
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| Analysts' corner | 12-OCT-09 |
| In the next 18-24 months, Dr Reddy's could see news flow from a series of key products in the US – 'one off' (Starlix, Lotrel) as well as 'multi-year' (Prilosec OTC, Arixtra, Allegra D) limited competition opportunities. | |
| Intermediate trend reversal? | 12-OCT-09 |
| It turned out to be a strange week when the market traded within a narrow range and suffered significant net losses. | |
| An investment tool | 12-OCT-09 |
| Last month-end, Crisil launched an initiative which could go a long way in helping investors across different classes take a decision regarding investment in a listed company. | |
Src: EconomicTimes, Business-Standard, Deadpresident Blog.
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