Stock Picks

3rd Feb, 2014 and ahead: Stocks to watch

1. SINTEX
Sintex - Daily Chart
Sintex on breaking above the resistance at the falling red trendline at 35.25 levels will move for 38.3-40.9 levels. There is a minor resistance at 36. Below 31.5, the stock will fall till 24 levels.
i) BUY above 35.25, SL: 33.3, TGT: 38.2-41+
ii) SELL below 31.5, SL: 32.5, TGT: 28.75-28-24
Cash and positional traders must add on dips near 33 levels after breakout and hold with SL at 31.7 for targets of 41++

2. UNITECH
Unitech - Daily
Interest rate sensitive stocks have been beaten down severely off late and so is the case with Unitech. On 30th Jan, 2014 the stock has formed a bullish hammer which could act as a trend reversal signal. Once the falling resistance line is broken, the stock could climb up from 12.8 levels to 14.5-14.75 levels. SL must be maintained at 11.7. If the stock slips below 11.7, the stock will be hammered down severely again.

3. TATA STEEL
Tata Steel - Daily
Tata Steel after a rise of more than 100% has fallen from 430 levels to 340 levels and it has found support in the 340-350 zone by forming a hammer and also the Fibonacci levels in this range could give this stock strength in the coming sessions.
i) BUY above 358, SL: 352, TGT: 370
ii) SELL below 340, SL: 350, TGT: 330-315

4. CROMPTON GREAVES
Crompton Greaves - Daily
 Crompton Greaves has given a sharp move in the last 2 sessions and the volumes have risen significantly. If the stock breaks above the white line resistance at 118 levels, the stock could show some good moves up.
BUY above 118, SL: 114, TGT: 122-125++
Positional cash traders place SL at 106 for targets above 136.

5. RURAL ELECTRIFICATION CORPORATION
REC - Daily
BUY above 180, SL: 176, TGT: 192. The stock can correct up strongly once the resistance of the falling red line is broken.

6. ARVIND
Arvind - Daily
Arvind has given a strong breakout from the 145 resistance, the stock can move fast above 156 levels and create higher highs. BUY with SL at 140 for higher targets.
Note: We have entered the stock at 146 levels.

More stocks to watch: BHEL, IDEA, ABAN OFF., AUROBINDO PHARMA. Keep following our blog for updates.
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