Stock Picks

4th August, 2014 and Ahead: Watchlist

This is the watchlist for stocks which could give strong profitable trades for the week 4th August, 2014 to 8th August, 2014:

Jaiprakash Associates:

Jaiprakash Associates
JP Associates is near the 61.8% retracement levels of the Feb '14 to June '14 rally. The stock can find support at these levels and rally if it breaks the falling trendline resistance as indicated by the red line. Stoploss for breakout trades in the stock must be put at 60.75. The expected target comes to 68-69 levels.

Tata Communication:
Tata Communication
Tata Communication is trading in a narrowing range as indicated by the red triangle. Any break above or below can give a good trading opportunity. Buy above 384.5, SL: 381.5, TGT: 390. If the stock manages to break above 392 levels, we can see it heading towards 405/412 levels.

IDBI:

IDBI Bank
IDBI Bank is having stiff resistance at 92.25 levels. BUY above 92.25, SL: 91.25, TGT: 94.25/95

Century Textiles:
Century Textiles
As seen in the daily charts, Century Textiles is trading in a rising channel with support at 575 levels and upside range of 680+ levels. The stock is trading at 586 levels and we could see a potential upside from these levels in the coming days. Any break above 607 levels can see the stock move up significantly higher. However, if the stock breaks 575 levels on closing basis, it can drift lower to 520 levels.

CESC:
CESC
CESC has corrected sharply from it's highs of 787 levels. 600 is a make or break support for the stock, meaning sustaining above 600 means that the stock can go on to make new highs. Buy above 677.5, SL: 655, TGT: 720+ levels. Safe traders can put a smaller SL of 667 and hold.

Tata Steel:
Tata Steel
On the daily charts, Tata Steel is finding good support at the 21EMA which means that the stock continues to trade with a bullish bias. Any break above 575 levels can see the stock rallying up fast. In the short term, 537 continues to be a good support for the stock for intraday levels.

Federal Bank:
Federal Bank
Federal Bank trades in a range of 110-130. We keep the stock in our watchlist for any break of the above levels. We have advised a 130CE & 110PE short as a range bound movement gives good options writing opportunities.

Andhra Bank:
Andhra Bank
Andhra Bank is near the 50% retracement zone of it's Feb '14 to June '14 rally. The stock can find support at these levels and rally from here. The stock is a BUY above 86 with SL at 83.75, TGT: 91. One can even initiate a BUY at current levels of 82.45, SL: 79, TGT: Open.

Adani Ports:
Adani Ports
Adani Ports has been trading in an up channel and on 1st August, 2014 the stock gave a break on the lower side of the range. This creates shorting opportunities in the stock for good gains in the coming week.
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