Reliance Communication: Buy for a target price of Rs 155.80 Close- Rs 145.80
RCOM is out performing in short term. It's showing sign of extension. Its momentum indicators are in BUY. One can BUY at CMP with SL-140.50 for the target of 155.80 in short term.
Tata Motor: Buy for a target price of Rs 351 Close- Rs 333
Tata Motor closed daily in positive territory. Its momentum indicators are in BUY mode. Risk reward is favourable to BUY at current levels. One can BUY at CMP with SL-324 for the target of 351 in short term.
Tata Steel: Sell for a target of Rs 271 Close- Rs 297.60
Tata Steel is under performing in short term. Its daily momentum indicators are in sell. One can sell at CMP with SL-310 for the target of 271 in short term.
SAIL: Sell for a target of Rs 43 Close- Rs 49.15
SAIL is under performing in short term. Its daily momentum indicators are in sell. Risk reward is favourable to sell at current levels. One can sell at CMP with SL-52 for the target of 43 in short term.
Reliance Infrastructure (BUY / CMP: 387.65 Target 1: 396; Target 2: 420)
The stock has been consolidating in a rectangular range for last two months and now it has given a breakout from that range supported by increase in upward momentum and volume, the stock could now test its resistance at 396 and above it can go to 420 in short to medium term. Stop could be placed at Rs 370.
Allahabad Bank (buy/ CMP: 80.35 Target 1: Rs 84.70 Target Rs 86)
The stock has been in a long term downtrend and has been consolidating in a 6 week long sideways range at its long term support level.
The stock has now given a breakout from this range on the upside. It may test next resistance level at Rs 84.70 and subsequently the pattern target at Rs 86. Stop can be placed at Rs 76.50.
Ranbaxy (Sell/ CMP: Rs 457.2 Target 1: Rs 423 Target: Rs 406)
Ranbaxy had seen a stellar up move of more than 60% in last one and a half month but now the stock is showing signs of exhaustion and could show some correction.
A bearish rising wedge pattern is seen forming where the stock has been rising on falling volumes. The stock could be sold for targets of Rs 423 and Rs 406. Stop can be placed at Rs 472.
TV18 Broadcast (Buy/ CMP: Rs 20.75 Target: Rs 25)
With some strength returning in media sector, TV18 Broadcast is seen breaking out of a double bottom pattern which gives us an upside target of 25 in the medium term. Stop could be placed at 19.
Titan Industries Ltd (Sell/ CMP: Rs 226.1 Target: Rs 207)
Titan seems to have finished a corrective up move of a larger move downwards marked by the steep fall in August. With weakness creeping in again it is likely to continue downwards in near future & could be sold for target of Rs 207 in short term. Stop can be placed at Rs 239.
RCOM is out performing in short term. It's showing sign of extension. Its momentum indicators are in BUY. One can BUY at CMP with SL-140.50 for the target of 155.80 in short term.
Tata Motor: Buy for a target price of Rs 351 Close- Rs 333
Tata Motor closed daily in positive territory. Its momentum indicators are in BUY mode. Risk reward is favourable to BUY at current levels. One can BUY at CMP with SL-324 for the target of 351 in short term.
Tata Steel: Sell for a target of Rs 271 Close- Rs 297.60
Tata Steel is under performing in short term. Its daily momentum indicators are in sell. One can sell at CMP with SL-310 for the target of 271 in short term.
SAIL: Sell for a target of Rs 43 Close- Rs 49.15
SAIL is under performing in short term. Its daily momentum indicators are in sell. Risk reward is favourable to sell at current levels. One can sell at CMP with SL-52 for the target of 43 in short term.
Reliance Infrastructure (BUY / CMP: 387.65 Target 1: 396; Target 2: 420)
The stock has been consolidating in a rectangular range for last two months and now it has given a breakout from that range supported by increase in upward momentum and volume, the stock could now test its resistance at 396 and above it can go to 420 in short to medium term. Stop could be placed at Rs 370.
Allahabad Bank (buy/ CMP: 80.35 Target 1: Rs 84.70 Target Rs 86)
The stock has been in a long term downtrend and has been consolidating in a 6 week long sideways range at its long term support level.
The stock has now given a breakout from this range on the upside. It may test next resistance level at Rs 84.70 and subsequently the pattern target at Rs 86. Stop can be placed at Rs 76.50.
Ranbaxy (Sell/ CMP: Rs 457.2 Target 1: Rs 423 Target: Rs 406)
Ranbaxy had seen a stellar up move of more than 60% in last one and a half month but now the stock is showing signs of exhaustion and could show some correction.
A bearish rising wedge pattern is seen forming where the stock has been rising on falling volumes. The stock could be sold for targets of Rs 423 and Rs 406. Stop can be placed at Rs 472.
TV18 Broadcast (Buy/ CMP: Rs 20.75 Target: Rs 25)
With some strength returning in media sector, TV18 Broadcast is seen breaking out of a double bottom pattern which gives us an upside target of 25 in the medium term. Stop could be placed at 19.
Titan Industries Ltd (Sell/ CMP: Rs 226.1 Target: Rs 207)
Titan seems to have finished a corrective up move of a larger move downwards marked by the steep fall in August. With weakness creeping in again it is likely to continue downwards in near future & could be sold for target of Rs 207 in short term. Stop can be placed at Rs 239.
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