- BHARAT FORGE :- BUY ABOVE 236 TARGET 246 THEN 254 SL 224
- BGR ENERGY :- BUY ABOVE 368 TARGET 382 THEN 395 SL 349
- BHUSHAN STEEL :- BUY ABOVE 818 TARGET 835 THEN 854 SL 799
- AXIS BANK :- BUY ABOVE 877 TARGET 888 THEN 895 -915 SL 851
DERIVATIVE PICK
HOLDING PERIOD – TWO to TEN DAYS
TATA STEEL ( CASH – Rs.465.95) :
The stock is looking extremely strong on the daily chart and its short term correction is over. Buying is advised above the level of Rs.470. The target of the stock works out to Rs.498.90 which was its previous swing high. Once it is able to maintain above the level of Rs.500 and close above it, then it can even reach the level of Rs.420- 425. However, partial profit booking is advised around Rs.498. Stop Loss of Rs.449 should be kept.
JINDAL SAW ( CASH – Rs.506.65) :
The company reported superlative results in the latest quarter and after that the stock has been in a strong upward movement. Buying is advised above Rs.510 for a target of Rs.532 and Rs.556.
Higher target of Rs.575-580 is also possible. Stop Loss of Rs.479 should be kept.
STOCKWATCH
HOLDING PERIOD – FIFTEEN DAYS to ONE MONTH
STRIDES ARCOLAB
Present Price – Rs.158.40
Strides is one of India’s leading integrated manufacturer and exporter of finished pharmaceutical dosage forms – both branded and generic. It is a significant global player in soft gelatin capsules and sterile parenterals with quality standards that meet the most stringent regulated market standards. It has 13 world class plants in India, Singapore, Brazil, Mexico, Poland and Italy offering its partners the advantage of multi-locational product sourcing. This company is the direct beneficiary of the swine flu. It has commenced commercial supplies of Oseltamivir capsules ( for influenza – A H1N1 virus for swine flu) to various countries. The formulation is a bio-equivalent to innovator Tamiflu. Its capacity is geared up to > 2 million treatments (one blister pack of 10 capsules) per month. On the technical front, the stock is an attractive buy at current levels. It first target works out to Rs.170 and the second target is around Rs.205-210.
