Top 5 picks of the day

Top 5 picks of the day

ET Bureau

Indian shares fell for the third straight session and closed 1.3% lower on Thursday to their lowest in two weeks, hurt by a decline in global equities and as results from engineering firms failed to cheer. The 30-share BSE index, Sensex, closed 1.29% or 219.43 points lower at 16,789.74, its lowest close since October 9. Only 6 of its components closed in the red.



Check out top five picks of the day by Anu Jain, vice-president, IIFL Pvt Wealth Management

(Views expressed are personal. The chartist may have interest in some or all the stocks.)

Yes Bank 23 Oct 2009, 0654 hrs IST

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Latest Quotes | Charts | News/Announcements | Quarterly Results | P&L | Price History Recommendation: Buy Last Close: Rs 248 Target: Rs 242 Stop Loss: Rs 265 The stock has been on a sharp breakout. It has made its 52-week high at 262+ one day prior to results. The stock is trading comfortably over 10 Day Moving Average of 222. Overbought on oscillators , but MACD strongly positive.

Nifty 23 Oct 2009, 0650 hrs IST

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Recommendation: Sell Last Close: 5002 Target: 5068 Stop Loss: 4945/4885 Nifty opened weak on global cues. First short signal emerged when Nifty could not hold 5,070 level, the second signal emerged when after flirting with 5,020-5,030 support, the market finally gave way to sub 5,000 levels.

i Infotech 23 Oct 2009, 0609 hrs IST

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Latest Quotes | Charts | News/Announcements | Quarterly Results | P&L | Price History Recommendation: Buy Last Close: Rs 94.7 Target: Rs 91.9 Stop Loss: Rs 99 Currently, the stock is in a band of 92-98. The stock has been taking support at 20 DMA of 92. Trend saturation visible for current trend of consolidation. It looks likely to cross target of 99 and move to 105 levels.

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Mid-term picks

ET Bureau

Broking house Sharekhan has suggested following five stocks for mid-term picks of the day.

DISCLAIMER: The views expressed in these pages are from brokerages, analysts and fund managers. Readers should seek professional investment advice before acting on any recommendation. ET does not associate itself with the choices.

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TCS 23 Oct 2009, 0645 hrs IST

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Latest Quotes | Charts | News/Announcements | Quarterly Results | P&L | Price History BUY MARKET PRICE: Rs 627.50 TARGET PRICE: Rs 674 In terms of the demand environment, TCS sees opportunities in the BFSI vertical in the near term on the back of M&A and integration work, and increase in the discretionary spending. The management believes in the bottoming out of the manufacturing, telecommunications and hi-tech verticals.

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Src: Economictimes.Indiatimes.com

Top five picks of the day and Heard on the Street : ET

Top five picks of the day

Top five picks of the day 21 Oct 2009, 0521 hrs IST

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Domestic shares closed 0.6% lower in see-saw trade on Tuesday, pulled down by Reliance Industries (RIL) on investor nervousness over the start of a court hearing in the energy giant’s dispute with Reliance Natural Resources (RNRL). The Supreme Court started hearing arguments in the case between RIL led by billionaire Mukesh Ambani , and RNRL, led by his younger brother Anil, over a deal to sell gas to the latter at below-market rates as per a family settlement. Check out top five picks of the day by Birendrakumar Singh,Technical Analyst, Religare Cap (Views expressed are personal. The chartist may have interest in some or all the stocks.)

Hexaware Technologies Ltd 21 Oct 2009, 0521 hrs IST

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Latest Quotes | Charts | News/Announcements | Quarterly Results | P&L | Price History Recommendation:Buy Last Close: Rs 91.40 Target: Rs 105 Stop Loss: Rs 85 The stock has witnessed a strong breakout after crossing Rs 90, it has been moving in a consolidation for past eleven trading sessions. The breakout is accompanied by heavy volume and is likely to move up to Rs 105, maintain a stop loss of Rs 85.

LIC Housing Finance Ltd 21 Oct 2009, 0520 hrs IST

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Latest Quotes | Charts | News/Announcements | Quarterly Results | P&L | Price History Recommendation:Buy Last Close: Rs 839.05 Target: Rs 890 Stop Loss: Rs 817 LIC Housing Finance has been moving in a narrow range for past three trading sessions, giving rise to a “Pennant” like pattern. It has witnessed a breakout of the “Pennant” while doing so it has also given a close above its all-time high. It is now likely to move up to 890 levels. It has a resistance at Rs 868 at which one can raise the stop loss to Rs 825 from Rs 817.

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Heard on the street

Heard on the street 21 Oct 2009, 0421 hrs IST, ET Bureau

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New releases, multiplex expansion lift K Sera Sera The stock price of K Sera Sera has gained close to 35% in the past one month alone. The buzz is that the company is betting big on some of its new releases that are in the pipeline. It has made an investment of close to Rs 100 crore in about 10 movies, out of which two will be released shortly. Some of its past blockbusters include Guru, Partner and Sarkar, among others. The stock, trading at its 52-week high, closed at Rs 21, down almost 2% from its previous close on huge volumes. Brokers say the firm is also planning to set up a chain of smaller version of multiplexes (having lower seating capacity) in tier-II cities in the next few months. The expansion would be part-funded with the money it recently raised in the GDR market. When contacted, a senior company official confirmed the developments, but refused to divulge details on the same. ISP licence buzz triggers selective buying in Zylog THERE’S a selective buying in Zylog Systems shares, following a buzz that the Chennai-based company has completed its Wi-Fi pilot project. It is expected to put in place about 4000 Wi5-enabled nodes against 250 currently installed in Chennai, within a year to make its entry in the ISP business. It has obtained a category-A internet service provider licence to operate in all DoT circles. Similar Wi-Fi services will be made available in Bengaluru, Delhi, Mumbai, Hyderabad and Kolkata. The stock closed at Rs 343, down almost 1.9% from its previous close, after gaining close to 5% in the past one month. The company may also lease its infrastructure and expand overseas, after complete services rollouts. When contacted, a senior company official declined to comment on the development. India Inc’s funds hunt a boon for small i-banks THE sharp surge in fund raising among India Inc, especially among the mid-tier Indian corporates, has proved to be a bonanza for small boutique investment banks. With M&A deals few and far between in the current environment, many of these boutique investment bankers are looking at innovative strategies to boost their business. For instance, in the event that a small or mid-sized company was to approach a boutique bank to do a QIP, these banks, which come in as advisors, turn to large domestic or foreign brokerages with the FII and FI connectivity to place the trade. These tie-ups are at best informal understanding where boutique banks are trying to lever on the brokerages distribution size and network. Contributed by Apurv Gupta & Deeptha Rajkumar

Src: Economictimes.Indiatimes.com

8 stks that were buzzing last week and how to trade them now

8 stks that were buzzing last week & how to trade them now

Bank Index advanced 8.3%, SBI zoomed 17.8%, ICICI Bank gained 6.5%. The Metal index surged 8%, Jindal Steel & Power rallied 16%, SAIL and Tata Steel surged 6.8% and 6.5% respectively. The top index gainers this week were Cairn India up 11.8%, TCS up 6.3% and RIL up 5.3%. However, telecom stocks like Reliance Comm and Bharti lost 6% and 5.3% this week respectively. Mehraboon Irani, VP-PMS, Centrum Broking, Technical Analyst, Sudarshan Sukhani and Dipan Mehta, Member, BSE/NSE discussed various stocks. They were bullish on Unitech, Torrent Power, Hindustan Unilever (HUL), Jindal Steel & Power, LIC Housing Finance and SBI while were bearish on Bharti Airtel. However, they had mixed views on Larsen and Toubro. Bharti Airtel Mehta told CNBC-TV18, "Telecom has been on underperformer over the past two-weeks or so since the news came out that Reliance itself was offering at very competitive rates for outgoing and on the whole we are seeing that there could be regulatory change as far as shifting from per minute to per second billing takes place. That could impact the profitability in the short to medium-term quite drastically and therefore my sense is that one should remain underweight on the sector. My specific advice would be to look at exiting out of Bharti Airtel and the other telecom stocks. But then again it could be at a trading bounce and need not necessarily be at this price.” Irani told CNBC-TV18, "The one space we are advising investors really exit is the telcom. It is not fair to state that Bharti is a great company – no doubt about it – but buy this stock if it gives you an opportunity. It has come down so sharply because this is not the way you look at stocks. The fact of the case is as far as telcom goes, according to me the story for the time being is certainly over. So, a bounce back here and there of 5-10% not ruling out but for an investor I don’t think this is the way one should be looking at stocks. One can definitely wait for a bounce back but learn to exit at higher levels. There are better opportunities elsewhere.” Sukhani told CNBC-TV18, "My sense is that telecom stocks are on the verge of bottoming out, which means Bharti Airtel may not be Rs 330 but it could be Rs 300 or Rs 290. That’s a different issue. For a long-term investor, this is the right time to go and invest in telecom stocks; I would say that on the basis of long-term views on the charts.” Unitech Sukhani told CNBC-TV18, "I don’t think Unitech is going to outperform the market. What we saw was a bounce in what is essentially a downtrend and my assumption is that if the market were to remain cheerful we could see Rs 140 or Rs 150. But at this point it looks very unlikely that Unitech would touch Rs 200 again.” Irani told CNBC-TV18, "I feel that when Unitech managed to raise funds for itself some month’s ago – the problems for Unitech were behind it. At that time we started liking the stock and we had a target of Rs 125 for it. At the present level it is more of a trading play but we don’t enter a stock for a 10-15% return at this particular level of the indices. For the last seven months the company has made bookings of nearly Rs 40 billion (Rs 4,000 crore) which is ahead of most estimates. They are also concentrating more on the affordable homes, which could bring down the rate per square feet with the company books it had. But all said and done according to me the stock could possibly definitely move at least 10-15% up from here. The problems for the entire real estate are going to continue for some more time to come.” Continued on the next page...

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Src: Moneycontrol.com
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Deadpresident Blog Updates:

Jindal Steel and Power

Clutch Auto

TTK Prestige

Diwali Picks - Oct 18 2009

Analjit Singh to hike stake in EIH: reports

Polaris Software

Bajaj Auto, Jindal SAW, Container Corporation, India Energy, Valuations

Infotech Enterprises, HCL Infosystems, Hexaware, Infotech Enterprises

FMCG Sector

Src: Deadpresident Blog

Bullish sentiment in new Samvat

Bullish sentiment in new Samvat

Brace for short-term correction.

Also Read Related Stories News Now - Sensex ends Muhurat Trading on a flat note - NTC strike enters sixth day - MCX lowers transaction fees - Textiles cos back in expansion mode; line up 9 projects - FIIs bring Rs 66k cr in Indian equities since last Diwali More

The market continued to find new legs as it made net gains on strong volumes. The Nifty rose to new 2009 highs and closed at 5,142 points for week-on-week gains of 3.98 per cent. The Sensex behaved similarly, rising to 4.08 per cent to close 17,322 points. The Defty jumped 4.75 per cent as the rupee shot up.

Volumes were good all week and extraordinarily high on Friday. (This analysis is being written pre-Diwali session, where trading is usually token). Advances outnumbered declines and a large number of stocks were heavily traded. FIIs remained big net buyers while domestic institutions sold through most of the week. The BSE 500 rose 4.26 per cent while the Nifty Junior rose 6.4 per cent.

Outlook: The market reconfirmed its bullish status and the new upside targets would be in the range of Nifty 5,300. However, there could be another short-term correction next week pulling prices back till around the 4,950-5,000 level. Positive FII attitude remains a critical driver.

Rationale: The sequence of higher highs confirms that both the bullish long-term and bullish intermediate trends remain intact. However, the intermediate trend is now 13-weeks old and could reverse anytime. The market is overbought in the short-term. A fall below 4,900 would signal intermediate trend reversal with a target of 4,750.

Counter-view: High volumes and a series of new 2009 highs in pivotal stocks implies the market could continue to head North for an un-definable time. Balanced against that, this last burst of trading may have been triggered by traders exiting positions. Normally Indian operators ease off around Diwali and domestic institutions are also net-sellers at the moment. Hence, the FII attitude is vital to market direction – if they sell heavily, there will be no counter-parties at current prices.

Bulls & bears: A large number of pivotal stocks hit new 2009 highs last weeks and most were backed by strong volume expansions. Metals, for example, made a comeback with Sterlite, Sesa Goa both doing very well. Banks as a sector jumped over nine per cent with leaders like SBI and ICICI Bank both hitting new highs. Real estate also bounced up. Outside these sectors, there were scattered winners such as PTC, GVKPIL, Cairn, etc. This sort of pattern suggests further gains but it also sets up a tempting scenario for profit-booking and almost by definition, the market is overbought, with many individual stocks being over-extended and far ahead of reliable supports. Use trailing stop-losses to lock in profits, if there is a sharp reversal.

MICRO TECHNICALS

Bharti Airtel
Current Price: Rs 326
Target Price: Rs 345

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The stock may have seen a selling climax due to the intensifying competition, which has led to a tariff war among existing service providers. The stock fell on sustained hammering from Rs 435. On Thursday-Friday, there was volume multiplication without a further fall. This suggests all potential selling has been absorbed. Keep a stop at Rs 315 and go long since it could bounce till Rs 345.

Indiabulls Real Estate
Current Price: Rs 290.95
Target Price: Rs 270

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The stock has run into resistance between Rs 290-300, which has remained despite very high volumes. On a correction, it could fall till Rs 270 or lower. Keep a stop at Rs 295 and go short. If it does break Rs 295 and closes above Rs 300, reverse and go long with a stop at Rs 290 and a target of Rs 320.

Power Trading Corp
Current Price: Rs 103.8
Target Price: Rs 115

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The stock has made an extraordinary breakout on a big volume expansion. The formation's target would be about Rs 115. Keep a stop at Rs 101 and go long. Book 50 per cent profit at Rs 110 and move the stop up to Rs 106.

Sesa Goa
Current Price: Rs 354.7
Target Price: Rs 380

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Sesa Goa’s stock is making a sequence of successive record highs. Because of this, it is impossible to calculate a reliable target, however projections of Rs 380 appear to be reasonable. Traders are advised to keep a trailing stop at Rs 345 and go long at the counter. Raise the stop by 10-units for every 10-unit rise in the share price.

ICICI Bank
Current Price: Rs 959
Target Price: Rs 1,010

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The stock had a breakout to a 2009 high on strong volume expansion. It is difficult to calculate a target since anywhere between Rs 970 and Rs 1,010 is possible and there is no recent price history. Keep a stop at Rs 945 and go long. Raise the stop 10-units on every 10-unit rise.

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Analysts' corner 19-OCT-09 Tata Power Company (TPC) has obtained open-access approvals to distribute electricity to suburban Mumbai thereby, enhancing its distribution strengths and enabling higher ROEs.

Markets at a glance 19-OCT-09 Postive cues from the global markets and a strong IIP boosted domestic sentiments and helped recoup losses of the previous week.

Expiry effect in overbought market 19-OCT-09 The cash market generated extraordinary volumes and saw net gains while the derivatives market displayed bullish sentiments and signs of decent carryover.

Bullish sentiment in new Samvat 19-OCT-09 Brace for short-term correction.

Revival in demand 19-OCT-09 While September quarter results of HDFC look good and an upswing in credit demand is visible, its stock already captures most of the positives.

'World's 5th largest in transmission in 3 years' 19-OCT-09 Crompton Greaves, a leading player in the domestic and international power transmission and distribution (T&D) market, believes there is huge potential for growth in India.

The worst is behind 19-OCT-09 HDFC Bank and Axis Bank delivered another quarter of robust profit growth that was in line with expectations and was partly helped by other income.

Focussed on the big picture 19-OCT-09 Winning in the markets requires that you take tough calls and stick with it despite the volatile conditions, believes Harsha Upadhyaya.

Costly fares 19-OCT-09 The ongoing fare war and the launch of wireless services by new players will only worsen the profitability of mobile service providers.

Big gains for Smart Portfolios 19-OCT-09 For the first time in Smart Portfolios 2009, fund managers outperformed the benchmark in terms of returns.

India down but not out 19-OCT-09 China beats India in investment stakes, believes Morgan Stanley.

Gold extends decline 19-OCT-09 The prospects for the yellow metal don’t look good in the short term.

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Market has great run in '09, but '92 was better
Bull's Eye: JSW Steel, Polaris Software, NHPC, HDFC Bank
Top A-Group gainers in Samvat 2065



Src: Economictimes, Business-standard