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Money Jul 2, 2012

It’s buy day: Bet on Reliance Infra and Maruti Suzuki

By Firstbiz Staff

Here are your intra day picks for the day from various market experts and brokerage houses :

Vishal B Malkan of www.malkansview.com, has two buy calls. His first pick is Zee Entertainment Enterprises as the stock has given a breakout on the daily charts above the resistance of Rs 140 with huge volumes. He recommends buying the scrip with a stop loss of Rs 142 for targets of Rs 149 and Rs 152 per share.

The second stock he is bullish on is Reliance Infra as the stock has shown strength with a bullish candle stick pattern on daily charts. He recommends buying the scrip with a stop loss of Rs 557 for targets of Rs 570 and Rs 574 per share.

Reliance Infra has shown strength with a bullish candle stick pattern on daily charts. Reuters

Shardul Kulkarni of Angel Broking, also has two buy calls. The first stock that he recommends is Axis Bank. According to him, the stock has the potential to test the levels of Rs1,060. One can buy the stock at the current range of Rs 1,010-1,020 for targets of Rs 1,060. The stop loss should be placed at Rs 990.

The second stock to buy is United Spirits as the charts are clearly suggest a triangular breakout with a potential target of Rs 740. He says that one can buy the stock in the range of Rs 685-690 per share for targets of Rs 740. The stop loss is to be placed at Rs 670 per share.

Rajesh Jain of Religare Securities has two buy calls - Aurobindo Pharma and Maruti Suzuki. Pharma stocks have had a good rally on the Friday and Aurobindo Pharma was up on good volumes. One can buy the stock at the current price with a stop loss of Rs108 for targets of Rs 115 per share.

Maruti Suzuki is the second stock to buy as it closed above its strong resistance of Rs 1,150. One can buy it at any correction near Rs 1,150 keeping a stop loss of Rs 1120 for higher targets of Rs 1,220.

Disclaimer: Views expressed above are that of various market experts only and Firstpost will not be held responsible for any investment decision based on the above recommendations.

by Firstbiz Staff

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