Wednesday, 15 October 2008

United Spirits (Rs 767.75): Sell



We recommend a sell in United Spirits from a short-term perspective. From the charts of United Spirits, we observe that after recording a life high of Rs 2,188 in October 2007, the stock has been on a long-term downtrend. Since then, the stock has been shaping lower peaks and lower bottoms. The downtrend accelerated in the early part of October and it plummeted sharply. The stock has recently penetrated the support level of Rs 1,000, accompanied with heavy volume. Moreover, on October 15, the stock tumbled 6 per cent, reinforcing the selling pressure. The stock is trading well below its 21- and 50-day moving averages. The daily and weekly relative strength indices are featuring in the bearish zone. The daily moving average convergence and divergence is also hovering over the negative territory. Our short-term forecast for the stock is bearish. We expect the stock’s decline to prolong further until it hits our price target of Rs 690 in the approaching trading sessions. Traders with short-term perspective can sell the stock while maintaining a stop-loss at Rs 805.

Source: HinduBusinessLine

Posted by Harsh at 17:31 0 comments

Day Trading Guide - October 16, 2008



ICICI Bank

Buy the stock in dips with tight stop-loss at Rs 390 level.

Infosys

The outlook remains positive as long as the stock trades above the support level of Rs 1,300. We re-affirm our buy recommendation in this counter.

L&T

In the last trading session, the stock plummeted 11 per cent, with heavy volume. Initiate fresh short-position only if the stock declines below Rs 850 level, with tight stop-loss.

ONGC

On Wednesday, the stock was very volatile and formed a spinning top candlestick pattern indicating indecisiveness. Desist trading in this counter for the session.

Reliance Capital

In the last trading session, the stock fell 11 per cent or Rs 89 with above average volume, reinforcing the selling pressure. We recommend a sell in this stock.

Reliance Communications

The stock is currently testing a key support level of Rs 230. We recommend a buy with stiff stop-loss at Rs 230.

Reliance Industries

Fresh short-position can be initiated only if the stock breaches Rs 1,480 level, with tight stop-loss.

Satyam Computer

We retain our buy recommendation.

SBI

Buy the stock in dips while maintaining tight stop at Rs 1,450 level.

TCS

Avoid trading in this counter for the session.

Source: HinduBusinessLine

Posted by Harsh at 17:28 0 comments

Bajaj Auto an outperformer: IDFC-SSKI

IDFC-SSKI has upgraded its rating on Bajaj Auto to outperformer with a price target of Rs 600, reports CNBC-TV18.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Source: Moneycontrol

Posted by Harsh at 17:15 0 comments

Buy Sterlite Inds, target of Rs 637: Emkay Global

Emkay Global Financial Services has maintained its buy rating on Sterlite Industries (India) with a target of Rs 637 in its October 14, 2008 research report. "For the 2QFY09, the company reported aluminum production of 106,000 tonne (yoy up 17.8%, qoq up 19.1%), copper cathodes production of 81,000 tonne (yoy down 11%, qoq up 19.1%) and refined zinc production of 122,000 tonne (yoy up 29.8%, qoq down 4.7%). On EV/EBITDA basis the stock is trading at 4x FY09E EV/EBITDA and at 3.8x FY10E EV/EBITDA. The company offers good growth potential considering the expected volume growth. We maintain BUY on the stock with a target price of Rs 637," says Emkay Global Financial Services' research report.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Source: Moneycontrol

Posted by Harsh at 17:15 0 comments

Accumulate Satyam; target Rs 483: Emkay Global

Emkay Global Financial Services has recommended an accumulate rating on Satyam Computer Services, with price target of Rs 483, in its report dated October 13, 2008.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Source: Moneycontrol

Posted by Harsh at 17:14 0 comments

Accumulate HCL Tech; target Rs 297: Emkay Global

Emkay Global Financial Services has recommended an accumulate rating on HCL Technologies, with price target of Rs 297, in its report dated October 13, 2008.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Source: Moneycontrol

Posted by Harsh at 17:14 0 comments

Buy Mphasis; target Rs 315: Emkay Global

Emkay Global Financial Services has recommended a buy rating on Mphasis, with price target of Rs 315, in its report dated October 13, 2008.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Source: Moneycontrol

Posted by Harsh at 17:13 0 comments

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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.