Jaiprakash Associates
Buy Jaiprakash Associates with the TARGET of Rs. 40 and
STOPLOSS of Rs. 31
Reason to Buy the Stock: The stock has been building a base
for most part of this month despite the carnage in the broader markets. Now
after a period of sideways consolidation between Rs. 29-33 the stock has finally
confirmed a breakout on the upside.
WIPRO
Buy Wipro above Rs. 470 with the TARGET of Rs. 495 and
STOPLOSS of Rs. 460
Reason to Buy the Stock: IT stocks have been a safe haven in
this bear market. Both Infosys and TCS have seen a significant upside in these
intraday sessions. Now Wipro has confirmed a breakout from a three year long
trading pattern. Stock was attempting to breakout the level of Rs. 470 for quite
a while and on Wednesday it confirmed the same.
MRF
Buy Wipro above Rs. 13000 with the TARGET of Rs. 14000 and
STOPLOSS of Rs. 126000
Reason to Buy the Stock: The daily chart of MRF shows that
the prices are near an important trend line support level whereas the momentum
oscillators are extremely oversold.
National Mineral Development Corporation
Buy National Mineral Development Corporation above Rs. 117
with the TARGET of Rs. 130 and STOPLOSS of Rs. 109
Reason to Buy the Stock:
While
the market has corrected significantly in the last four trading sessions, NMDC
has been consistently trading above the levels of Rs. 110. The daily chart
structure shows a sideways consolidation in the range of Rs. 110-120 and the
price action in yesterday’s trading session shows that if the stock moves above
the level of Rs. 170 significant upside can be seen in the next few trading
sessions
Ranbaxy Laboratories
Buy Ranbaxy Laboratories with the TARGET of Rs. 430 and
STOPLOSS of Rs. 410
Reason to Buy the Stock: Yesterday it gave a sharp move crossing
important level of Rs. 400. Its momentum has entered into bullish zone on daily
chart.
Tata Consultancy Services (TCS)
Buy Tata Consultancy Services with the TARGET of Rs. 1945,
1950 and STOPLOSS of Rs. 1880
Reason to Buy the Stock: It is making higher tops and higher bottoms
since a long time, outperforming the market as well as the sector. Yesterday it
managed to cross above the important resistance of Rs. 1900. I expect the move
to continue.
