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Monday, 20 May 2013

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Keep stop loss at Rs 194 in BHEL

BHEL was having a lot of resistance around that Rs 198-200 zone. Now it has broken above that zone. If it sustains above Rs 198-200 today, it should move up to Rs 212-215. It has that power, which can be seen by the long OI built up but traders have to keep a stop loss. I would keep a stop loss of Rs 194 with a target price of Rs 212-215 on the upside,


Unitech may retest Rs 32.50-33 on upside

For me, more importantly, it has managed to close above that Rs 30 mark, which was acting as a very stiff resistance for it. So, this rally or momentum will continue in Unitech and we may retest Rs 32.50-33 on the upside. Yet it is a high beta counter, so traders should keep a tight stop loss around that Rs 28.50-29 mark, which should be a strong support for Unitech.


Trade Voltas with stoploss at Rs 92

The pattern in Voltas is most bullish, it is most momentum prone so it has got a bullish engulfing pattern which is formed. That's the only reason why I have really taken it. It looks like that possibly with a stop loss of about Rs 92, one may be looking towards Rs 97 on the charts right now. I would probably play that for momentum. If I were to look at something which is more for investment, probably Larsen and Toubro would make more sense. But for trading I think it is Voltas which would make more sense.


Buy Shriram Transport for week

It is not something which is not really overbought, it is still in the higher range of stochastic but it is something which is worth taking a trading call on. So, I would buy it whether it is here or on dips if the market gives a consolidation for about Rs 850. All the NBFCs are looking smart. I think for the week, I would choose Shriram Transport.

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