BIG BOSS
DATED 13/6/11VIKAS PARSHURAM SAMWATSARE
Bajaj Finserv
Recommendation: Buy
Last Close: Rs 65.85
Target: Rs 75
Stop Loss: Rs 60
After a very strong closing on the last trading day of last month, the stock has been under consolidation. However, it has retraced 50% of the move from 52.65 to 68.70. The stock has gained further momentum taking support at its short-term averages (20 & 55 DEMA).
Last Close: Rs 65.85
Target: Rs 75
Stop Loss: Rs 60
After a very strong closing on the last trading day of last month, the stock has been under consolidation. However, it has retraced 50% of the move from 52.65 to 68.70. The stock has gained further momentum taking support at its short-term averages (20 & 55 DEMA).
Punj Lloyd
Recommendation: Buy
Last Close: Rs 65.85
Target: Rs 75
Stop Loss: Rs 60
After a very strong closing on the last trading day of last month, the stock has been under consolidation. However, it has retraced 50% of the move from 52.65 to 68.70. The stock has gained further momentum taking support at its short-term averages (20 & 55 DEMA)
Last Close: Rs 65.85
Target: Rs 75
Stop Loss: Rs 60
After a very strong closing on the last trading day of last month, the stock has been under consolidation. However, it has retraced 50% of the move from 52.65 to 68.70. The stock has gained further momentum taking support at its short-term averages (20 & 55 DEMA)
Subex Ltd
Recommendation: Buy
Last Close: Rs 65.30
Target: Rs 72
Stop Loss: Rs 62
The daily price pattern is showing a probable inverse shoulder-headshoulder pattern formation, with the neckline at 67-68. The stock is trading above its 200 DEMA, which is a strong long-term support. Momentum indicators showing strength, especially MACD(12,26), augurs well.
Last Close: Rs 65.30
Target: Rs 72
Stop Loss: Rs 62
The daily price pattern is showing a probable inverse shoulder-headshoulder pattern formation, with the neckline at 67-68. The stock is trading above its 200 DEMA, which is a strong long-term support. Momentum indicators showing strength, especially MACD(12,26), augurs well.
Patel Engineering
Recommendation: Buy
Last Close: Rs 158.55
Target: Rs 180
Stop Loss: Rs 149
The stock has come out of a bullish flag pattern on its daily charts aboveRs157 levels. The daily price pattern now exhibits a formation of an inverse shoulder-head-shoulder pattern with neckline placed at 161. Momentum indicators, RSI(14,9) as well as the MACD(12,26), show strength.
Last Close: Rs 158.55
Target: Rs 180
Stop Loss: Rs 149
The stock has come out of a bullish flag pattern on its daily charts aboveRs157 levels. The daily price pattern now exhibits a formation of an inverse shoulder-head-shoulder pattern with neckline placed at 161. Momentum indicators, RSI(14,9) as well as the MACD(12,26), show strength.
Power Finance Corporation
Recommendation: Buy
Market Price: Rs 200.70
Target Price: Rs 290
PFC is a long-term bet on India's expanding power sector investments. Its healthy assetliability profile has been cushioning PFC against interest rate risks, but tighter liquidity conditions, rising rates and increased competition could put pressure on spreads.
ICICI
Recommendation:Buy
Market Price: Rs 1,035
Target Price: Rs 1,360
It is our top pick in the sector, considering expected improvement in core performance, strong capitalisation and value unlocking potential from other ventures. Loan growth, high CASA ratio, low bulk deposits and international margins will improve margins.
Market Price: Rs 1,035
Target Price: Rs 1,360
It is our top pick in the sector, considering expected improvement in core performance, strong capitalisation and value unlocking potential from other ventures. Loan growth, high CASA ratio, low bulk deposits and international margins will improve margins.
M&M
Recommendation:Buy
Market Price: Rs 662.30
Target Price: Rs 844
M&M would be one of the biggest beneficiaries of normal monsoon. Investments in its subsidiary and associate companies add to its valuations. Value unlocking in these companies would act as catalyst. A 14-15% growth in automobiles & tractors is expected
Market Price: Rs 662.30
Target Price: Rs 844
M&M would be one of the biggest beneficiaries of normal monsoon. Investments in its subsidiary and associate companies add to its valuations. Value unlocking in these companies would act as catalyst. A 14-15% growth in automobiles & tractors is expected
Action Construction
Recommendation:Buy
Market Price: Rs 46
Target Price: Rs 80
ACE's market share in mobile cranes is 52-53% and with the nearest competitor, it controls 95% of the market. The management estimates this business to grow at above 25%. The markets's duopolistic nature allows healthy margins as a result of pricing power.
Market Price: Rs 46
Target Price: Rs 80
ACE's market share in mobile cranes is 52-53% and with the nearest competitor, it controls 95% of the market. The management estimates this business to grow at above 25%. The markets's duopolistic nature allows healthy margins as a result of pricing power.
Pantaloon Retail
Recommendation:Buy
Market Price: Rs 285.30
Target Price: Rs 370
Pantaloon is the best play in the fast-growing organised retail industry. The company houses ~14msf of retail space and enjoys a significant first-mover advantage. The management has guided increasing share of private labels to improve its margin profile.
Market Price: Rs 285.30
Target Price: Rs 370
Pantaloon is the best play in the fast-growing organised retail industry. The company houses ~14msf of retail space and enjoys a significant first-mover advantage. The management has guided increasing share of private labels to improve its margin profile.
| TREND | Consolidate |
| RESISTANCE 2 | 23000 |
| RESISTANCE 1 | 22700 |
| SUPPORT 1 | 22350 |
| SUPPORT 2 | 22000 |
| STRATEGY | Buy on dips |
SILVER (JUL)
| TREND | Consolidate |
| RESISTANCE 2 | 56300 |
| RESISTANCE 1 | 55300 |
| SUPPORT 1 | 53400 |
| SUPPORT 2 | 52500 |
| STRATEGY | Buy on dips |
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