Prices pierced its uptrend and that backed by the double top in RSI . We expect below 401 - 398 would act as a crucial report
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Gail India
Outlook - Gail India is showing signs of weakness as it closed below 50 DMA. Thus one could wait for some more downside and look to accumulate on lower levels
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Mahindra Satyam
Short Term Outlook - Mahindra Satyam has many stiff resistance at 78 - 87 levels. Thus for Mahindra Satyam to reach 105 it needs to cross these levels on strong volumes
In you have any query feel free to ask
Rei Agro
Short Term Outlook - Rei Agro for past couple of days has seen good increase in volumes. On upside Rei Agro coupld test 18-19 levels in short term
For long term investment we would prefer Jain Irrigation & Rallis India.
Major economies has started injecting money in their economy and this might further boost the prices in the medium term. But daily chart is forming the Double top price pattern and below 55800 it might fall till 54000 levels. Thus one could keep stop loss of 55800
Educomp
Short Term Outlook - Educomp has posted poor Q3 result as a result Educomp is seeing selling pressure. On downside 230 is support for Educomp. Thus one could hold Educomp with stop loss below 230 and look to exit on bounce
Eveready Industries
Short Term Outlook - Eveready Industries is looking good as on Friday Eveready Industries saw good upmove on strong volumes. However on upside Eveready Industries could see stiff resistance near 30-31 levels, thus one could look to book some proefit near 30-31 levels
HDFC Bank - One could book part profit near 530 and hold remaining position witth stop loss below 518
Reliance Industries - Book part profit near 835 & 855 levels and hold remaining position with stop loss below 800
Polaris Fin Tech - Book part porift near 170 and hold remaining position with stop loss of 158
Central Bank - Book part profit near 113 and hold remaining position with stop loss below 104
SBI - Book part profit near 2475-2500 and hold remaining position with stop loss of 2380
Sintex Ind - Book part profit near 102 and hold remaining position with stop loss 94
For near term out top picks are
M&M for target of 800 - 820 with stop loss of 710
Jain Irrigation Target 122 with Stop Loss 113
Clariant Chemicals Target 660-670 with Stop Loss 630
JSW Steel
Short Term Outlook - JSW Steel is showing some signs of weakness. If JSW Steel closes below 830 then some more weakness could set in. On upside JSW Steel could see initial resistance near 880. If JSW Steel closes above 880 then it could test 910-930 levels
Your portfolio could generate 70 to 75% returns from current levels till 2015 end. However below are our few observations
- We would prefer Tata Motors or M&M over Ashok Leyland
- As your holding too much concentrated towards mid cap banking sector. So we would recommend to diversified your portfolio. We would reduce some holding (no need to sell all) in City Union bank and South Indian Bank and accumulate large cap stock like Tata Steel, Reliance Infra, Cairn India on dips.
Globally the scenario is dicey , Iran has stopped crude supply to 9 EU nations and on the other side IEA has reduced its global oil demand. We assume Iran news might put much weightageand it will climb till 5110 levels.