Thursday, 9 August 2007

Tech Stocks

Tech stocks had a good day yesterday where they were the frontunners in the rally. The ECB curb to control the appreciating rupee is good news for IT companies in general but a lot of experts are still skeptical. They have been underperformers for quite some time now and this sudden rally seems like a relief-rally. Things should get more clear when the rupee starts to stabalize.

Trading Tip:

JaiprakashHydro looks like a good buy at CMT of 45. Target is 57-60. Keep a stop loss of 40

Trading tip:

Gayatri Projects is a good buy at CMP of 305 for a target of 350-355. Keep a stop loss of 280-285

DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.