Top 5 picks of the day : 7th Dec 09

by khalid on 07/12/2009 · 0 comments

1. ITC Ltd
Recommendation: Buy
Last Close: Rs 257
Target: Rs 270-275
Stop Loss: Rs 245

The stock is trading above its uptrend line and 50 -daily moving average (DMA) from September. It has good support in the Rs 250-245 range. The stock may be accumulated in the Rs 257-250 range for a target of Rs 270-275.

2. PFC
Recommendation: Buy
Last Close: Rs 265
Target: Rs 275-280
Stop Loss: Rs 255

The stock is in a short-term uptrend and has given a decisive breakout above Rs 260 levels with positive relative strength index. The stock is trading above its 20-DMA. Hence, momentum strength may continue in the stock.

3. Sesa Goa
Recommendation: Buy
Last Close: Rs 386
Target: Rs 410-420
Stop Loss: Rs 370

The stock is trading in long-and short-term uptrends. It made an all-time high at Rs 388 levels on Friday. The stock is trading above its short- term uptrend line and 20-DMA. We can expect further strength in the short term.

4. NecLife
Recommendation: Buy
Last Close: Rs 31
Target: Rs 36
Stop Loss: Rs 27

The stock is trading in intermediate and short-term uptrends. On Friday, it gave a decisive breakout above its resistance at Rs 29 levels with huge volumes and positive relative strength. The momentum is expected to continue.

5. Reliance MediaWorks
Recommendation: Sell
Last Close: Rs 272
Target: Rs 255-250
Stop Loss: Rs 285

The stock is trading in a short-term downtrend. It’s trading below its 200-DMA and 20-DMA. On Friday, there was selling pressure at those levels. It has not been able to show strength above 50% decline of its most recent peak.

Source : Economic Times

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