Stock Picks

19th May 2013: THE WEEK TO COME.

NIFTY is clearly in a rising trend. A very bullish movement lead by pharma, automobiles and banking stocks. We are just a few points away from a new HIGH which is possible. But on friday, it was the first time in sometime that FII's sold index futures though buying in cash segment continued, this shows that market is expected to rise but very cautiously now. Going forward, 6110, 5960, 5800 and 5730 are the support zones (+/- 20 points). We expect a small consolidation before any big move on either sides. As a trader, don't GAMBLE thinking that the market has risen so it must fall. The last 1 month has trapped many people in shorts like this. FIIs are pouring in and falling commodity prices will cool off inflation and lead to rate cuts by RBI so a bullish atmosphere will continue. Next year, it is time for elections and markets will consolidate in some range further down this year. We expect sugar and power stocks to benefit from elections as some favourable policies will be announced in the next 1 year. IT sector has not contributed in this rally but will surely resume an uptrend. We are carrying bullish option positions in TCS as it is the strongest of all IT stocks as of now. ITC has seen a correction and has beaten street expectations with it's Q4 results this week. 290 is a very strong support. We are carrying 250CE of June expiry at a price of 5, SL 0 and TGT 25-30.

STOCKS TO KEEP AN EYE ON:

1. INDIA BULLS REAL ESTATE
Rcom rose, and this is following similar lines. The bullishness could  even take it to 100 in a month.
Short term support at 83, 81.5. Medium term support at 75.

INDIA BULLS REAL ESTATE


2. IVRCL
With real estate stocks starting to shoot, this stock could give some really big moves upwards.
Support seen at 21.

IVRCL


3. JINDAL SAW
Above 483, with SL at 465 this stock on upside could move upto 550/600 levels in a month.

JINDAL SAW


4. JSW STEEL
Above 715, this stock will break the falling trend and could move till 750 levels. SL: 703.

JSW STEEL


5. JUBILANT FOODWORKS
Resistance is seen at 1114 and this stock can fall to 900. Above 1120, 1200 is the upside target.

Jubilant Foodworks


6. MARUTI SUZUKI
Short with SL 1730, TGT: 1600

MARUTI SUZUKI


7. ORIENTAL BANK
Above 275, stock can fire till 290, 310 and 330 levels. Till then, with SL at 275, one can go short.
ORIENTAL BANK OF COMMERCE




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