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VIKAS PARSHURAM SAMWATSAE
Check out the top picks of theWEEK by VIKAS P.SAMWATSARE Technical Analyst,& H.O. PARSADAM Shares & Securities.
OBC
Recommendation: Buy
Last Close: Rs 347.50
Target: Rs 375
Stop Loss: Rs 333
Oriental Bank of Commerce has witnessed a breakout of the symmetrical triangle chart pattern on the daily charts, collaborating positive movement in momentum oscillators. Successive break above its 50-DMA around Rs 355 may help the stock retest its recent peak of Rs 380.
Last Close: Rs 347.50
Target: Rs 375
Stop Loss: Rs 333
Oriental Bank of Commerce has witnessed a breakout of the symmetrical triangle chart pattern on the daily charts, collaborating positive movement in momentum oscillators. Successive break above its 50-DMA around Rs 355 may help the stock retest its recent peak of Rs 380.
IFCI
Recommendation: Buy
Last Close: Rs 48.40
Target: Rs 52
Stop Loss: Rs 46.40
After making a recent low at Rs 44, IFCI has been consolidating with positive bias and has formed a long bullish candle, indicating possible minor trend reversal towards the upside. Positive crossover on the momentum oscillators confirms the positive view
Last Close: Rs 48.40
Target: Rs 52
Stop Loss: Rs 46.40
After making a recent low at Rs 44, IFCI has been consolidating with positive bias and has formed a long bullish candle, indicating possible minor trend reversal towards the upside. Positive crossover on the momentum oscillators confirms the positive view
Jet Airways
Recommendation: Buy
Last Close: Rs 462
Target: Rs 490
Stop Loss: Rs 446
The stock has seen a breakout of bottom triangle formation on comparatively higher volumes, indicating the short-term trend reversal towards upside. Short term outlook for the stock remains positive as long as the level of Rs 446 remains intact.
GAIL
Recommendation: Sell
Last Close: Rs 443.50
Target: Rs 420/410
Stop Loss: Rs 456
The stock has seen a downward breakout of the flag formation on the daily chart. Also, the price has been consolidating with a negative bias after breaking the support of 50-200 DMA levels, indicating a bearish outlook for the stock.
Last Close: Rs 443.50
Target: Rs 420/410
Stop Loss: Rs 456
The stock has seen a downward breakout of the flag formation on the daily chart. Also, the price has been consolidating with a negative bias after breaking the support of 50-200 DMA levels, indicating a bearish outlook for the stock.
Grasim
Recommendation: Sell
Last Close: Rs 2,287
Target: Rs 2,190
Stop Loss: Rs 2,338
The stock has been forming lower tops and lower bottoms on the daily chart since the past two months. Also, the most crucial support at DMA levels has been violated, which indicates a bearish movement in the stock.
Last Close: Rs 2,287
Target: Rs 2,190
Stop Loss: Rs 2,338
The stock has been forming lower tops and lower bottoms on the daily chart since the past two months. Also, the most crucial support at DMA levels has been violated, which indicates a bearish movement in the stock.
Kotak Mahindra Bank
Market Price: Rs 445
Target Price: Rs 520
The bank is doing well in its lending operations. While yields remain largely capped due to the focus on expanding the corporate loan book, this augurs well in terms of lower provisioning requirement. The stock is trading at 2.5x its FY12 adjusted book value.
MARG
Recommendation:Buy
Market Price: Rs 95
Target Price: Rs 154
The current order book of the company's EPC division translates into 3.3 times its FY11 EPC revenues. The company plans to hive off its real estate business, which could unlock value for the investors. The stock is currently trading at 5.3x its FY11 EPS of Rs 17.8.
Market Price: Rs 95
Target Price: Rs 154
The current order book of the company's EPC division translates into 3.3 times its FY11 EPC revenues. The company plans to hive off its real estate business, which could unlock value for the investors. The stock is currently trading at 5.3x its FY11 EPS of Rs 17.8.
BGR Energy
Recommendation:Buy
Market Price: Rs 482
Target Price: Rs 570
The company is expected to complete two power projects by FY12 and book around Rs 2,300 crore in revenues in that year. It is well placed to win a few key bids, which will drive its bottomline growth. At CMP, the stock is attractively valued at 8.2X FY12E.
Market Price: Rs 482
Target Price: Rs 570
The company is expected to complete two power projects by FY12 and book around Rs 2,300 crore in revenues in that year. It is well placed to win a few key bids, which will drive its bottomline growth. At CMP, the stock is attractively valued at 8.2X FY12E.
Power Grid Corporation
Recommendation:Buy
Market Price: Rs 101
Target Price: Rs 120
The company's regulated asset base is expected increase to Rs 20,000 crore by FY13 as projects worth Rs 29,800 crore are commissioned and capitalised in this period. The stock is currently trading at a P/E of 9.2x, EV/EBIDTA multiple of 11.0x on FY12 earnings.
Market Price: Rs 101
Target Price: Rs 120
The company's regulated asset base is expected increase to Rs 20,000 crore by FY13 as projects worth Rs 29,800 crore are commissioned and capitalised in this period. The stock is currently trading at a P/E of 9.2x, EV/EBIDTA multiple of 11.0x on FY12 earnings.
Cholamandalam Finance
Recommendation:Buy
Market Price: Rs 158
Target Price: Rs 190
The company has shifted focus on its core business of vehicle financing, which is a less risky and high-yielding business. It may report strong FY12 result. The stock price offers a good buying opportunity as it is trading at 1.95x its FY11 book value
Market Price: Rs 158
Target Price: Rs 190
The company has shifted focus on its core business of vehicle financing, which is a less risky and high-yielding business. It may report strong FY12 result. The stock price offers a good buying opportunity as it is trading at 1.95x its FY11 book value
Nifty Futures
Sell Nifty Futures around Rs 6,710-20
Target Rs 6,670-6,645
Stop Loss above Rs 6,740.
Bank Nifty Futures
Sell Bank Nifty Futures around Rs 10,860
Target Rs 10,800-10,755
Stop Loss above Rs 10,902.
Sell Nifty Futures around Rs 6,710-20
Target Rs 6,670-6,645
Stop Loss above Rs 6,740.
Bank Nifty Futures
Sell Bank Nifty Futures around Rs 10,860
Target Rs 10,800-10,755
Stop Loss above Rs 10,902.
Nifty futures closed and settled finally at 5547.50 down by -29.70 points or -0.53 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5580 else below support level of 5508 it would be in a downward trend.
It has resistance close to the level of 5580 & above this level the next resistance near the 5630 mark. It has support close to the level of 5508 & below this level the next support near 5415 mark.
(Views expressed are personal. The chartist may have interest in some or all of the stocks.)
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