Bull's Eye: Reliance Industries, Crisil, ACC, Tata Steel, Berger Paints, Ambuja Cements

Buy Crisil with a stop of 890: Ashwani Gujral

All-time favourite Crisil that has moved sideways while the market came down from 5400 to 5150, so chances are if another attempt at 5400 begins, Crisil should move higher, so this we buy with a stop of about 890, target of about 1000.

ACC seems a good bet to buy: Ashwani Gujral

I have chosen ACC because I have two or three cement stocks in the 52-week highs list, so this we can buy with a stop of about 1180, target of 1300.

Buy JSW Steel: Deepak Mohoni

JSW Steel, it had picked up pretty nicely from the end of September, so a pretty good rally. It would have outperformed most of the index stocks during that time. Today’s reaction about 3% down and in fact it is rising in the last 5 or 10 minutes.

It could mean that maybe the future outlook is not being seen as terribly bad by investors, might just pick up. One has to look at once again that momentum it showed from late September. The stock has a little bit of potential.

Buy Bajaj Auto with a stop of 1960: Ashwani Gujral

Bajaj Auto post the correction has now started moving higher, so we buy with a stop of about 1690, target of about 1850.

Buy Reliance Industries: Ashwani Gujral

We expect on the Nifty. Even Reliance chances will remain sideways, downside maybe towards 840, upside around 915-920. Once we can get past those levels, then maybe some kind of more upside may get started but overall it should be in a 70-80 point band till the market can figure out, which way it is heading.

Buy Berger Paints: Mitesh Thacker

Berger Paints is one stock, which has just given a very strong breakout on the weekly charts. Last week the price did very well by gaining about 9-10%, a strong breakout of getting into new highs.

130 would be the price target, which has corrected from levels of 240-245, managed to hold the 200-day average and a rising channel support, so it could give some bounce back, 240 would be the first target over here, 220 which is the Friday’s low should be the stop loss.

Buy Tata Steel and Hindalco: Ashwani Gujral

Given that there is a bit of a bounce in the global market, so maybe these stocks could still remain ranged. Tata Steel between 390 and about 450 is the place where this could trade. Hindalco may be 115 on the downside and 135-140 on the upside, so metals if globally things remain a bit positive could be more ranged than moving down but overall longer term trends still remain down on metals.

Buy Oracle Finance: Mitesh Thacker

Oracle Finance again is a stock, which went up to as high as 2200, corrected to levels of 2050 and give a strong bounce back from the short-term moving averages, so this one can be bought with a stop at 2054, a price target of 2200.

Buy IGL with a stop of 410: Ashwani Gujral

Now on fresh calls, we have chosen stocks, which are not really related to the global environment or to the rate environment, these are stocks which are making fresh highs and continue to be in strong trends regardless of what is happening on the index, so IGL after its correction to about 390, it has come back, so this we can buy with a stop of about 410, target of 455.

M&M looks positive: Mitesh Thacker

In the recent past they have been having contrasting fortunes. Tata Motors has bottomed out from lower levels while Mahindra has broken into new highs. Now Tata Motors actually went up to as high as 200-day average at the 205-206 level, it has corrected since then. My sense is that 185-180 would not be broken.

We might actually see a reversal, probably it is a pack of levels of 200-day average, which is now at about 202-203, so that’s where Tata Motors stand, broad consolidation of about 10%, 180 to about 205 on the upside. M&M on the other hand looks much more interesting. What we saw was stock price breaking into new highs testing levels of 875, correcting, giving a pullback to short term averages.

On Friday it showed a very strong bounce back from short-term averages, that’s a positive sign. My sense is that 875, which were the earlier highs would be captured and you might see the stock making newer highs. I would not be surprised to see 920-925 in case nothing goes wrong.

Buy Ambuja Cements with a stop of 156: Ashwani Gujral

Now first we will discuss the BTST calls, Pantaloon Retail was a sell with a stop of about 180, target of about 150. United Spirits was a sell with a stop of about 880, target of about 790 and cement stocks, which continue to make fresh 52-week highs look extremely positive, so Ambuja Cement remains a buy with a stop of about 156, target of 172.