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Money May 30, 2012

Buy day: Suzlon, Wipro, Ranbaxy and Raymond

By Firstbiz Staff

Here are your intra day picks for the day from various market experts and brokerage houses :

Vishal Malkan, CMT, www.malkansview.com, is bullish on two stocks. His first pick is Havells India and he recommends buying the scrip with a stop of Rs 581 for targets of Rs 605 and Rs 609. After making a smart move on Monday, it corrected the next day and has taken support at Rs 580 on Tuesday. The second scrip he recommends is to buy Wipro with a stop loss of Rs 402 for targets of Rs 415.

Manas Jaiswal of manasjaiswal.com two picks for the day are Suzlon and Educomp Solutions. He says one can buy Suzlon at current levels with a stop loss of Rs 19.90. The stock has made a good base near Rs 19 and on the daily chart it is making inverse head and shoulder pattern, which is a sign of reversal. The stock could see an improvement and test Rs 25 in the next three to four trading sessions.

Reuters

The second stock is Educomp Solutions. He is bullish on the stock at current levels with a stop loss of Rs 145.

Nooresh Merani of AMSEC Research two calls for the day are Century Textiles and Mcleod Russel. He recommends buying Century Textiles with a target price of Rs 300 and a stop loss of Rs 274. The stock has seen a sharp fall from Rs 370 levels to the current Rs 270-280 levels. He says that he expects the stock to bounce back over the next few sessions.

The second stock to buy is Mcleod Russel with a target price of Rs 310 and a stop loss to be placed at Rs 270.

Sudarshan Sukhani of s2analytics.com recommends buying Raymond on declines as the stock has corrected sharply from Rs 425 to Rs 300.

The second scrip he recommends buying is Ranbaxy. According to him, Ranbaxy Laboratories is an excellent stock with a long-term target of Rs 700 and more and one should buy on every dip and consolidation. Currently, it is on the verge of moving above the Rs 530-Rs 535 resistance. One can look at levels of Rs 555-560 for the immediate targets.

Disclaimer: Views expressed above are that of various market experts only and Firstpost will not be held responsible for any investment decision based on the above recommendations.

by Firstbiz Staff

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