Ashwani Gujral’s top 5 picks for trade today
Published on Wednesday, February 10th, 2010 at 8:59 AMAuthor: stockalert (2027 Articles)
Technical Analyst Ashwani Gujral is bullish on Rashtriya Chemicals and Fertilisers, NMDC, Andrew Yule and Company, HMT and ITI. He advises investors to buy into these stocks.
Buy Rashtriya Chemicals and Fertilisers (RCF) with a target of Rs 118 per share and stop loss at Rs 99 per share.
Pre-budget is a good time to trade PSU type of stocks because of different reasons. RCF, we can buy with a stop of Rs 99. These stocks have moved sideways, basically haven’t really corrected much. So if the market seems like doing a bit of an upward reaction then they should outperform, so we get a target of about Rs 118 in the short-term.
Buy NMDC with a target of Rs 572 per share and stop loss at Rs 440 per share.
This stock made a large move yesterday, big upmove then a correction, then an upmove yesterday, Rs 440 is a good stop. We buy it with a short-term target of about Rs 572.
Buy Andrew Yule and Company with a target of Rs 70 per share and stop loss at Rs 56 per share.
I don’t know if this is getting divested or not, this had 7 to 8 down sessions. Yesterday, it has again started rising, so that is a good point to get into this kind of a stock. We buy it with a stop of about Rs 56. We could see targets of Rs 70 maybe, not going back all the way to its recent highs.
Buy HMT with a target of Rs 107 per share and stop loss at Rs 80 per share.
There are always rumours of packages etc, so this had a good move yesterday. We buy it with a stop of about Rs 80, it could do Rs 107.
Buy ITI with a target of Rs 66 per share and stop loss at Rs 51 per share.
This stock also saw a large upmove, then a sideways move. If we do even a 15-20-30 point Nifty move then such small stocks are likely to fly. So ITI, we buy with a stop of about Rs 51 and target could be Rs 66 in a couple of days.
Q: How are you approaching the Nifty now? Trade with a long bias moment or do you think gains will be too modest to take a meaningful long trade?
A: We have seen positive divergences since day before yesterday, so both day before and yesterday we got buy signals, but the follow through seems to be lacking, even today half of the Asian markets are in red. So it’s very difficult to take a buy trade unless you get some kind of big momentum.
So you could get a leap along kind of 4,900 pullback; but looking at the momentum it does not seem that a fresh move above 5,300 is likely to start anytime soon. So this 15-20 point upmoves you much rather play them with public sector undertaking (PSU) type stocks than trying to get long in the Nifty. We just need to wait and see what happens at 4,900.
Source : Link
Subscribe to my newsletter filling the form below. I'll try to make you happy.
Random Posts
|
|
|
Market Live |
|
|
Loading ...
gujral bastardddddddddddddddddddddddddddddddddddddddddddddddddddddddddddddddddddddddddddddddd