Indian markets opened stronger this morning on positive
global cues. Overnight, US stocks
snapped five-day losing streaks after Initial claims for state unemployment
benefits dropped last week near a six-year low. While Nifty opened 0.25 percent
higher at 5895, Sensex is up 0.12 percent at 19914.
Kingfisher, JP Associates, Unitech and BHEL are among the
top traded stocks on the NSE.
Rupee opened stronger at 61.90 against the US dollar after
the RBI relaxed the minimum maturity tenure for banks’ foreign currency
borrowings’ to one year from three years. A positive September month with 7%
gains has just gone by but October comes with more pessimism than optimism.
Indian markets are just 6 percent away from their all-time high but India’s fundamentals
still look weak. Fitch’s India Ratings says unless the prices of diesel, petrol
and LPG are raised, the fiscal deficit could exceed 5%.
Stocks to Buy today on 27 Septembet 2013
1. Exide Industries
Buy Exide Industries above Rs 133, TARGET Rs 142 and
STOPLOSS Rs 128
The stock on the
daily chart has broken out of a consolidation zone above Rs 129 leading towards
symmetrical bullish triangle breakout. Now the 200 days moving average (DMA)
for the stock is placed at Rs 129, which is going to act as a strong support in
any decline. Also if you look at the daily RSI, it has been sustaining above
the levels of Rs 45, which reinforces our bullish view in the counter.
2. Chambal Fertilisers
Buy Chambal Fertilisers above Rs 35, TARGET Rs 39 and
STOPLOSS Rs 33
On the daily chart the stock has given a breakout from a
downward sloping trend line. It suggests that downward trend is about to end
and the stock may reverse into an uptrend. Also the stock has given a breakout
from its 50 day moving average. If you look at the daily RSI, it has been
sustaining above Rs 40 which confirms the strength in the recent up move.
3. Idea Cellular
Buy Idea Cellular at CMP, TARGET Rs 177, 180 and STOPLOSS Rs
169
After a strong consolidation of two-three weeks, Idea
Cellular has broken above the resistance of Rs 170 with good volumes on daily
as well as weekly charts. Hourly momentum has entered into bullish zone.
4. Voltas
Buy Voltas at CMP, TARGET Rs 79, 80, 81 and STOPLOSS Rs 74
Voltas showed a good momentum yesterday with huge volumes on
daily as well as weekly chart. Hourly momentum entered into bullish zone
tagging the upper side of the Bollinger band.
Other Stocks you can buy are BHEL, Firstsource Solutions, TATA Elxsi, Cipla, United Phosphorous, Dishman Pharma.
