- RELIANCE :- BUY ABOVE 2084 TARGET 2119 THEN 2148 SL 2054
- TATA ELXSI :- BUY ABOVE 171 TARGET 177 THEN 188 SL 158
- JINDAL STEEL :- BUY ABOVE 2919 TARGET 2946 THEN 2992 SL 2872
- ADLABS :- BUY ABOVE 349 TARGET 380 SL 335 ( 2-3 DAYS )
STOCKWATCH
HOLDING PERIOD – ONE TO THREE MONTHS
CEAT TYRE (Present Price – Rs.130.85)
All tyre industry stocks are doing extremely well primarily because of the excellent quarterly numbers. On an equity capital of Rs.34.24 cr ( Rs.10 paid up), the company declared sales of Rs.679.62 cr and a net profit of Rs.60.20 cr in the quarter ending June09. In the previous quarter ending March 09, it had sales of Rs.631.2 cr and net profit of Rs.45.03 cr. On the technical front, the stock is in a strong uptrend and is likely to move up in a big way. All the momentum indicators are indicating a strong buy signal. Buying is advised above Rs.130 for an immediate target of Rs.145 and Rs.162. Medium target of the stock is around Rs.200 which might take around 3 months to reach.
MUNDRA PORT (Present Price – Rs.597.25)
Mundra Port is one of the leading non-captive private sector ports in India, providing services for various cargo categories. MPSEZ also has access to rail, road, and pipeline network across India, which has helped it tie up strategic arrangements with customers and position itself as the preferred destination for customers. The stock which went to a high of Rs.705 on 12th June 09 has completed its correction once it made a low of Rs.491 on 8th July 09. It goes into a strong uptrend once it crosses the level of Rs.624. The target of the stock works out to Rs.674 and Rs.705. The real explosive move will come once it crosses the level of Rs.638 where more positions can be added. Medium target of the stock works out to Rs.819.
