Top 5 picks of the day :17th Dec 09

by khalid on 17/12/2009 · 2 comments

1. Bharat Petroleum Corporation Ltd

Recommendation: Buy
Last Close: Rs 610
Target: Rs 670
Stop Loss: Rs 585

The stock is in clear uptrend. On long-term charts, the stock was in rectangle bullish consolidation and has currently been trading above the same. The stock will touch the level of Rs 670 with a minor resistance at Rs 640.
Stoploss should be placed at Rs 585.

2. Cipla Ltd

Recommendation: Buy
Last Close: Rs 343
Target: Rs 375
Stop Loss: Rs 333

The stock was on an upmove with expansion in volumes in its last run-up. That may be an indication of further rise in the near term. The pharma sector is already buzzing with positive bias. The strategy should be to buy at current levels.

3. Gujarat Mineral Development Corporation Ltd

Recommendation: Buy
Last Close: Rs 140
Target: Rs 165
Stop Loss: Rs 127

The stock has been on a steady rise . We may interpret that the stock is getting accumulated with a long-term view. The stock is currently in the bullish consolidated phase, after a sharp movement between Rs 95 and Rs 148.

4. Punj Lloyd Ltd

Recommendation: Sell
Last Close: Rs 202
Target: Rs 185
Stop Loss: Rs 212

The stock is in its last leg of correction. It may see selling pressure if breaks the level of Rs 197 which seems likely in the near term. One can go short at current levels and add more at Rs 202 with a final stop loss at Rs 212.

5. Jaiprakash Associates Ltd

Recommendation: Sell
Last Close: Rs 217
Target: Rs 200
Stop Loss: Rs 231

The stock of Jaiprakash Associates is one of the weak stocks in the 50-share Nifty. The stock is having high beta to the index whenever it falls. In that context, it’s a sell with a price target of Rs 190.

Source : Economic Times

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abdul basit December 17, 2009

dear khalid can cipla touch 1000 when i am a long term invstor,is that bonus candidate?


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