Stock Picks

Hot Stocks: Week 17th June and ahead

1. IDEA
This has been one of the favourite stocks for traders to move in and out with a few predictable moves. The stock is close to a strong resistance zone at 138.6. It could correct down to 133/132.5 levels.Short it at around 137 levels and if 138.6 breaks, exit positions. Buy above 139 with SL at 137 for good upmoves.
SELL @ 137+ levels, SL: 138.6, TGT: 133/132.5
BUY above 139, SL: 137, TGT: 141.5/145+

IDEA


2. HDFC
The momentum is turning positive and if the 840 resistance breaks, HDFC could give quick moves to 850/860+ levels. With the RBI policy due on monday, any positive news can be the trend reversal for HDFC.
BUY above 840, SL: 830, TGT: 850/860+
SELL below 828,SL: 835, TGT: 816/805

HDFC


3. JP ASSOCIATES
Another stock that could see some short covering is the heavily beaten down JP Associates. Every time this stock gives an upmove, people think that finally the time has come for this stock to give a rally till 100 levels and beyond and all of a sudden it just crashes. A mild resistance is at the 63.55 levels. A break out above these levels can see it test 65.25/67.5 levels.
BUY above 63.55, SL: 62 (Cash) or 62.75 (F&O)

JAIPRAKASH ASSOCIATES


4. MAHINDRA FORGINGS
This stock is at a 52 week high and the price action on friday shows it is ready for another round of upmove. The 20DMA has broken above the 200DMA and it means further bullishness for the stock. Also, big volumes indicate that long positions have been made in this counter. Positional traders and long term investors can add on dips till 58 and hold with an SL of 54 for 80/90+ levels. Short term traders hold with an SL of 62 for 70/75+

MAHINDRA FORGINGS



5. CENTURY TEXTILES
The falling trendline resistance breaks above 285, and support is at 270. This could be a good break out play for derivative traders.
BUY above 285, SL: 282.5, TGT: 288/292

CENTURY TEXTILES


6. LUPIN
LUPIN is still in an uptrend. A break above 785 can push it to test the previous high of 809. Above that the stock could move upto 850/875 levels. Support is at 773 & 748 levels.
BUY above 786, SL: 773, TGT: 810/850/875

LUPIN


7. MARKSANS PHARMA
This stock has nearly doubled and has seen huge volumes in past few days. Use dips to buy it positionally. Beware, it is a risky trade. BUY with SL 5 and TGT 8-9.

MARKSANS


8. SYNDICATE BANK
It's a squeeze trade, this stock is just getting squeezed between it's 100DMA and 200DMA. A break out on either sides can give us good trading moves. Above 124, the stock can test 125.5 levels and below 121, our target is 115.5 for a positional trade.
BUY above 124, SL 123.5, TGT: 125.5
SELL below 121, SL: 123, TGT: 119.5/117/115.5

SYNDICATE BANK

9. SUN TV
Sun TV has turned very bearish with huge volumes just hammering down the stock, our price target for this stock is eventually 300 and below. As risk is big, dealing in futures can be very risky. So this makes up a good options trade.
BUY 340PE at 16-18
SL: 375 on spot
TGT: 40.

SUN TV

10. MAHINDRA FINANCE
With positive news flows and heavy volumes, this stock will fly above 258. 258 is the falling trendline resistance. Support will be seen at the 20DMA. We expect 300 in this stock in the next 1 month.
BUY above 258, SL: 245, TGT: 270/285/310+

MAHINDRA FINANCE

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