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Money Aug 16, 2012

Technical calls: Buy RInfra, Tata Steel

By Firstbiz Staff

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

Vishal Malkan of CMT has recommended Reliance Infra . It has formed a bullish candlestick pattern on daily charts. Hourly momentum is bullish with good volumes, he said. He recommended a buy with a stoploss of Rs 519 for targets of Rs 532 and Rs 537.

Tata Steel has formed a bullish candlestick pattern on daily charts. It has taken important support of Rs 390 level. Hourly momentum is bullish. He recommends a buy with a stoploss of Rs 403 for targets of Rs 415 and Rs 419.

Shardul Kulkarni, Angel Broking has recommended GAIL. A corrective towards Rs 365 is completing thus he has recommended buying GAIL in the range of Rs 372 to Rs 375, place a stop loss at Rs 364. For a potential target of Rs 395 in the next five-six trading sessions.

Reuters

The second stock that they recommend is JSW Holdings. In case of JSW Holdings, they are seeing that the pattern on the daily chart is a flag and in the flag breakout will confirmed above the levels of Rs 650. Thus they recommend buying Jindal South West Holdings above Rs 650, place a stop loss at Rs 633 for a potential target of Rs 695 in the next five-six trading sessions.

Arunesh Madan, Augment Investment has Adani Enterprises as its first pick. It has given a trendline breakout from a falling trendline placed on is daily chart. The momentum indicators after reaching deep oversold levels have also begun to look up. Look to buy this stock in the range of Rs 189-190.50. One should keep a stop loss below Rs 184 and look for a target of Rs 204-208 in the coming days.

Buy Bank of Baroda in the range of Rs 635 to Rs 640 as the stock has formed a bullish pattern on the daily candlestick charts. Keep a stop loss below Rs 620 levels and look for a target of Rs 663 in the coming days.

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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