Stock Picks

1st March, 2014 and Ahead: Stocks to watch

Ashok Leyland
BUY at 16.2, SL: 15.5, TGT: 17.9/18.5

SKF India
BUY SKF India at current levels of 735, add on dips near 715 and HOLD with SL at 700 for TGT: 800+ levels.

Avanti Feeds - Daily Chart
BUY Avanti Feeds above 460, SL: 440 (Closing Basis), TGT: 515+

Tata Global
BUY Tata Global above 142.5, SL: 140.9, TGT: 145.75 (Intraday Traders)
BUY Tata Global above 142.5, SL: 138, TGT: 151-153 levels.

VIP Industries
VIP Industries is forming and inverse H&S pattern on the daily charts which would indicate a bottom formation for the stock. A break above 75 levels could lead the stock to 100+ levels. Positional traders can initiate a BUY above 75 with SL at 62 and hold for a few months.

United Breweries - Daily Chart
BUY United Breweries at around 804, SL: 796.5, TGT: 819-820. The stock found support at 775 levels which was the 61.8% retracement of the 724-854 move and with good volumes gave a break above the resistance at 785-787 levels.

MPS Ltd.
MPS Ltd. - Daily Chart
BUY MPS Ltd. with SL at 345, add on dips near 355-360, TGT: 400-420+

Hindalco - Daily Chart
BUY Hindalco above 108, SL: 106.5, TGT: 111 (Short Term Traders Only). The stock has broken the falling channel and the breakout should see the stock atleast retracing upto 50% of it's High and Low of the falling channel which comes out somewhere around 111.2-111.5. The previous swing high is at 107.7 and if the stock breaks that level, we could see it move upto 111 levels.

Tech Mahindra
The stock has broken resistance at 1870 levels and could touch 1905 levels. Intraday traders BUY with SL at 1861 for TGT of 1905. Positional traders BUY with SL at 1850 for targets of 1925-1930+

A2Z Maintenance - Daily Chart
BUY A2Z at around 10.6 levels with SL at 9.6 for targets of 11.7/12.6/13.8

Colgate Palmolive - Daily Chart
For intraday traders, the dotted red line level is a deciding level. Any break above it during the trading sessions must be used to create a LONG for the falling trendline level indicated in red. SL must be maintained at 1320 levels.On a break above 1345 levels, BUY for a target of 1385, SL at 1330. The stock has been consolidating in a range and a good break out can be seen in the stock if we see a rise in volumes. Basically we would be looking for 90,000-100,000 volume a day on the NSE to indicate a growing interest in the stock.

Polaris Financial Technoligies
Polaris has strongly broken the resistance zone of 152-155 with a huge spurt in the volumes. Positional and medium term traders can initiate a BUY at 160-165 levels with SL at 150 on closing basis and hold for levels of 190-195.

On the daily chart, ITC has given a breakout at 323 levels with considerable rise in volumes. The stock has resistance at 332 levels. Safe traders BUY only above 332 with SL at 322 for TGT of 352. A BUY can be initiated at current levels of 328-329 too for the same target with the same stoploss. Intraday traders can BUY with SL at 327 for a target of 332.

On the daily charts, we see a bullish engulfing pattern being formed with a spurt in volumes and resistance being broken at 20.5 levels. Intraday traders can go long with SL at 20.3 for target of 21.3. Positional traders can BUY with SL at 19.7 for target of 22.5

Max India has shown strength near the 61.8% retracement area at 177 levels. BUY on a close above 197 with SL at 186 for TGT of 220+

Read our Nifty view for March '14 here.
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