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Money Jun 27, 2012

Intra day calls: Buy Tata Steel, Sell HUL

By Firstbiz Staff

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

Manas Jaiswal of manasjaiswal.com, has two buy recommendations. His first pick is Tata Steel as the stock has bounced back smartly. On the daily chart, the stock has made a hammer pattern and it can test Rs 418 in the next one to two trading sessions. Investors can buy the stock at the current levels with a stop loss of Rs 406 per share.

Reuters

The second stock on his radar is PTC India. As the stock broke the neckline inverse head and shoulder pattern on the intra-day chart yesterday, it can now move at the 200 day moving average and test Rs 66 in the next one to two trading sessions. One can buy the stock at the current level with a stop loss of Rs 58 per share.

Arunesh Madan of Augment Investment, has one buy and one sell call. The first stock on his radar is HCL Tech. While the stock has formed a hammer pattern on the daily candle stick charts indicating that the stock may have bottomed out in the very short run, it has a strong support in the region of Rs 449 to Rs 452. One can buy the stock in the range of Rs 455-460 for targets of Rs 475-480. The stop loss is to be placed below Rs449.

He has a sell call on HUL in the range of Rs 452-454 with a stop loss being placed above Rs 458 levels as the stock has formed a bearish pattern on the daily candlestick charts. Look for a target of Rs 425-430 in the coming days.

Rakesh Gandhi of LKP, has two buy recommendations. He says that one can buy PTC for a target of Rs 66 and a stop loss at Rs 58 per share. The second stock to buy is Tata Global as the stock has formed an unusual pattern of triple bottom and has crossed the neckline of this triple bottom with good volumes. Further, it has also seen a crossover of short term moving average which would add momentum to the stock and can be bought for targets of Rs 125. The stop loss is to be placed at Rs 115 per share.

If one is looking at cement stocks to invest in, HeidelbergCement India is a safe bet in the cement sector from the next one year perspective, says Aashish Tater, Head of Research, Fort Share Broking. According to him, there are two reasons why he picked the company, first is the parentage, second is that the capacity is going to double very soon. Investors can get 30 percent returns even in this challenging scenario, he added.

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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