Stock Picks

26th May 2014 and ahead: Stocks to watch

The current strength rally in the market is a very strong one and the opportunities arising are more than what we have seen in the recent times. Bad companies have turned into multi-bagger's in a couple of months. What are the stocks to track in thee coming trading sessions? Read On!

MARKSANS PHARMA:
Marksans Pharma
The typical trade we love to take. A bullish rallying stock, consolidates and then breaks out with volume. Marksans pharma has given a strong breakout with a rise in volumes at 25 levels. Short term traders BUY and hold with SL at 25 for targets of 30+ Positional traders BUY and hold with SL at 24 levels and keep trailing your SL to ride the stock's rally.

DLF:
DLF-Monthly
The infra bandwagon is finding many takers of late. DLF is one of the biggest infra co's in India. On the monthly chart, we see DLF breaking out of the resistance level at 210 levels. The trendline it broke has been resistance since 2010. The stock now has support at 190 levels. The initial target of this breakout works out to be 280. In medium term the stock could head to 390/500 levels. Those interested in the ride upto these levels can BUY with a SL at 175. Safe traders avoid adding on dips.

GUJARAT ALKALIES AND CHEMICALS
GUJARAT ALKALIES AND CHEMICALS
GAC has given a very strong breakout above the 220 range and it makes a good positional trade in the cash segment. The volumes have significantly gone up as seen in the weekly chart and this adds confidence to our view of the upmove in the stock. A stoploss can be put at 200 levels. Try to add on dips near 220. Target will work out to be around 275 for now. Once the stock closes above 275, expect crackers here as the stock would be poised for stronger moves on the up side. The RR ratio in this stock for now is around 1.75 considering you can get it for around 230 and target and SL are mentioned above.

K P R MILL
KPR MILLS
On our facebook page we had given a BUY on this stock at around 147 levels. Currently trading at 160 levels, the stock is a BUY once again above 175 on closing basis. Traders can initiate a LONG now and hold with SL at 140 for a target of 200. Resistance for the stock is around 173-175. The stock has seen strong accumulation with a 3x increase in average weekly volumes.

MCX
MCX
 This is a risky trade. We have tried highlighting the range in which MCX has been trading for months now. The bullish candle it has formed this week makes it a must have on the watchlist. On a break above 625-630 levels, MCX could be heading for targets of 880+ levels. Currently trading at 580 levels, one can BUY with SL of 565 for target of 620. If it breaks 620, hold for above mentioned levels. Medium term support is at 555.

3iinfotech
3iinfotech
Another beaten down stock of the last bear market, 3iinfotech saw a sharp rise in volumes as it surged by more than 55% breaking the resistance at 8.6 and 9.5 levels. BUY at 10, SL: 8.5, TGT: 13-15+ levels. This trade is similar to our other active call Alok Industries.

CENTURY ENKA
CENTURY ENKA
Century Enka could turn out to be a multibagger stock in the coming months going by the cheap valuations it is trading at. On the technical side, the stock has broken crucial resistance at 165 levels and the stock looks set to start a new wave up. Medium term traders place an SL at 145 and hold for higher targets of 220. Short term traders put SL at 160 and hold for targets of 190-200.

CUMMINS INDIA
CUMMINS INDIA
On the daily chart, Cummins India has given a strong breakout above 615 levels. BUY with SL at 610, target 665+ levels. The RR ratio here is 2 and seems favorable enough despite  the big SL.

EVEREADY
EVEREADY
The stock is in a strong uptrend and the previous week it gave a breakout from it's range of 51-57 and hit it's text book target of 65. One can initiate a LONG here with SL at 59 and HOLD for targets of 77+

GREAVES COTTON
GREAVES COTTON
BUY Greaves Cotton with SL at 100 closing basis and HOLD for targets of 116-120+ levels. The risk is low and reward is big. Positional traders can keep trailing their SL and hold for higher targets.

HARRMALAYA
HARRMALAYA
Harrmalaya, which surely many of us has not heard of is another good 20% play on the horizon. BUY with SL at 65 at CMP 72, TGT: 90-92 levels.

JSWHL
JSWHL
The stock has seen heavy accumulation which suggests that it could be heading ahead to 1000+ levels in the coming days. BUY with SL at 750, TGT: 1000+ levels. Please trade as per risk capacity as the SL is big here.

POWERGRID
POWERGRID
Termed a boring stock, Powergrid is breaking out from it's 90-130 range and it could be heading to 170 levels as per the textbook target. Place SL at 115 for any trades initiated in this stock.
Powered by Blogger.