SAI KRIPA PARSADAM STOCK MARKET AND MCX PARK

BIG BOSS

VIKAS PARSHURAM SAMWATSARE

Top 5 stock picks of the day
DATED  5.10.11
Views expressed are personal. The chartist may have interest in some or all of the stocks. The readers are advised to take their own investment decision or may take professional advice before investing.)
Tata Steel
Recommendation: Buy

Bullish

Last Close: Rs 397

Target: Rs 430

Stop Loss: Rs 385

Tata Steel has a support line of the falling wedge pattern, retracing almost 138.2% of its previous rally and hence levels of Rs 387 will turnout to be a critical turning point. Rally should extend at least towards Rs 440 in the near term. A buy is recommended above Rs 400.
Cairn India
Recommendation: Sell

Bearish

Last Close: Rs 265

Target: Rs 250

Stop Loss: Rs 272

Abreakdown from Head and Shoulder top below Rs 270 has affirmed bearish trend. A down crossover in MACD below reference line has generated fresh sell signal. A dead cross of 10 DMA with 50 DMA also corroborates further negativity in the stock.
Cinemax India

Recommendation: Buy

Uptrend

Last Close: Rs 35

Target: Rs 41

Stop Loss: Rs 33

The long-extended correction in Cinemax has paused after a solid breakout from 'falling channel' which is supported with very high volumes. On the daily chart, the stock has been resisting at support of channel which earlier acted as resistance.


Hindustan Unilever


Recommendation: Sell

Weakness

Last Close: Rs 327

Target: Rs 307

Stop Loss: Rs 337

The rising support line extended from intermediate trough of Rs 266 was violated on Tuesday with high volumes. A negative divergence on weekly RSI is also indicating that intermediate top is already in place with very low chances of taking it out in the near term.
Colgate

Recommendation: Buy

Bullish

Last Close: Rs 385

Target: Rs 1,040

Stop Loss: Rs 965

The stock had been moving in a range of Rs 940-995 holding the support of its 50-DMA for two weeks. The rising slope line still remains intact despite consolidation. A breakout above Rs 995 will refuel positive momentum in the counter with immediate upside seen at Rs 1,100.