Jindal Photo Limited – Trading Buy (Closed)

Update (Aug 14, 2010):

The stock has not really performed and had come to 195.40. The results of the company are also not so promising and so I would suggest to exit the position. The tip is now closed.

 

Jindal Photo Limited (NSE Symbol: jindalphot) is expected to come out of results during the week on Friday, Aug 13. The stock has been trending upwards over a long period of time and has made recent highs few months back around 250 levels. From there it corrected to 180-185 levels and has been stable over 190 for past couple of months. The stock has support around 195 levels and could show levels of 225-230 before the results or if the results come good, reach these levels after that. With the results, you cannot be sure how the stock would perform so there is an element of risk buying into this stock because of this unknown. But if you are willing to take a risk of 3% for a return of 10-15% then you can go ahead and look to buy into this stock below 205 levels. Do no try to buy it when it is rising as then the risk reward would not be good. This recommendation is purely from trading perspective with the caveat that based on results, you would have to take your decision and also exit the stock if result comes out as not expected.

Stoploss: 195

Target: 225-230

Duration : 7-10 days

Entry Price: Below 205

As always map the recommendation to your own trading style.

Indraprastha Medical Corporation Limited – Trading Buy

Indraprastha Medical Corporation Limited (NSE Symbol : indramedco) has come from 20 levels to 46 levels in last 2 years and has been trending upwards. The company is one of the associate companies of Apollo Hospitals group and is yet to be merged with parent company. At current levels of 46, the stock is very near to its long term trendline support of 44 and can easily go to 50 from here so the risk reward ratio is in favor of returns of 10% with a risk of 3-5%. This is a recommendation from trading perspective as the stock could probably go to the target levels in a month time. With the markets having stocks moving in 1 day this much, it might not be a stock for everyone but for investors who are happy with returns of 10% in 1-2 months can look to enter in this stock with a better risk-reward ratio. The stoploss should be strictly kept as 44-45 on closing basis.

Stoploss: 44 (on closing basis)

Target: 50

Duration: 1 month

Entry Price: 45-46

As always map the recommendation to your own trading style.

JK Paper Limited – Trading Buy – Target Achieved (Closed)

Update (July 20, 2010):

The stock hit its target today with a intraday high of 61. I would close the tip. Hope some of you could book some profits.

JK Paper Limited (NSE Symbol: Jkpaper) has been a very good outperformer stock in the market over past few weeks and months. The stock has been making higher highs and higher bottom and clearly trending upwards. It has not been able to cross and sustain levels of 58 but on downside it is taking trending support and holding it. Any trader or investor can look to enter in this stock at CMP with stoploss of 53 for a target of 61-62 in trading and also over short to medium term, stock looks to go higher. If the stock can go past 58, then it can quickly go to 61-62 levels. Fundamentally the stock is not at all over valued and trades below its book value. On current earnings stock is trading below a PE of 5 and with industry peers commanding higher PE, this definitely has potential to give good returns. Even with market scenario not great globally, I think the stock should outperform and reach its intended target. But from prudent risk management, maintain a stoploss of 53 and exit once stock goes below it and sustains.

Stoploss: 53

Duration: 25-30 Days

Entry Price: 55 or Lower

Target: 61-62

As always map the recommendation as per your own trading style.

Surya Roshni Limited – Trading Buy – Target Achieved (CLOSED)

Update ( June 28, 2010):

The share moved smartly and reached its target price of 94-95 today after consolidating in a narrow range and so closing this recommendation. It might go higher in next few days and  if take out 95 can go another 4-5% up over it. But I believe  in booking profits in trading so I am closing this recommendation.

Surya Roshni Limited (NSE Symbol: suryarosni) moved a lot earlier and made highs around 100 before coming to 80 levels. It has bounced from there and currently trading near its resistance of 87 levels as on closing above it can go to 94-95 levels quickly. I recommend a trading buy in this stock around 84-85 levels with stoploss of 81 for a target of 94-95 in 20-25 days. The stock is probably a high beta stock with movements when they come is big and is volatile. It has been trending with higher highs and higher lows since it made low in April of last year. I would not be surprised if it takes out its previous high made of 100 and go further up but then its a matter of momentum and depend on how it trades and also with qtr results coming in July, you never know. But from pure trading perspective who can keep a stoploss of 81 and buy should be OK to make some profit in this trade.

Stoploss: 81

Duration: 20-25 Days

Entry Price: 84-85 or lower.

Target : 94-95

As always ensure to map the recommendation as per your own trading style.

Balrampur Chini Mills Limited – Trading Buy (Closed)

Update (June 11, 2010):

The stock had gone to a high of 83, just 2% short of its target. But it has been falling since then and has come to the buy price. I would exit the stock at this point as there seems to be no upward movement for now. The recommendation is closed.

Balrampur Chini Mills Limited (Nse symbol: balramchin) has seen a big fall alongwith other stocks in the sugar sector for past few months. The stock corrected till 70 levels and attempted to take support around there and has now moved around 10% from the lows to 78 levels. The stock seem to have formed a short term base and can go another 10% up from current levels. The stock has been making higher highs for some days and if it can sustain above 80 then can go to 85-87 levels in few days or weeks. Any trader can look to buy this stock with a stoploss of 73 for a target of 85-87 in 8-10 days. The market has been quite volatile and there are many other stocks which has corrected and can go up but has been volatile. I think Balrampur chini can sustain the movement on upside and not be volatile as other stocks or market. Infact other sugar stocks like Renuka too could make a move as they seem to have taken support near the lows made and trying to consolidate in a narrow range and whenever this is broken on upside it can give some good movement.

Stoploss: 73

Duration: 8-10 days

Entry Price: CMP or lower

Target: 85-87

As always map the recommendation to your own trading style.

Shree Renuka Sugars Limited – Contrarian Buy – Target Achieved (Closed)

Update (May 28, 2010):

The sugar sector had a good upmove today and Renuka sugars also had a good rise. The stock closed at 61 today, bang on its target price. With momentum it can go further up but I would  close the tip as I like to book profits and exit .

Shree Renuka Sugars Limited (NSE Symbol: renuka) has been a real laggard for some weeks and months now. The overall sugar sector has been doing really bad but for past few days all these shares have been able to maintain their recent low and sustain above it. Renuka closed at the high end of its intraday high and seems can gather some momentum and go to 61-62 levels in next few trading sessions. This has to be a contrarian buy from oversold levels and the fact that some base seems to be forming for these stocks. There could be a case where they fall again after going up but for now I think as a trading contrarian buy , one can look to enter in this stock for very short term gain. This would be less risky stock as it has fallen so much and seems a very short term bottom has been formed.

Stoploss: 53

Duration: 7-10 trading days

Entry Price: 54-57

Target: 61-62

As always map the recommendation to your own trading style.

Few Stock Picks for Short Term Trading

For past few days I have been receiving query on some stocks to be bought for long term or medium term during the market crash. Based on this query, I thought of recommending some stocks for trading perspective with few weeks duration. I have already provided some recommendations for long term in response to queries, so thought of posting some picks for short term trading. Following few stocks look good with upward momentum on their side.

1) GIC Housing Finance – Company came with results on May 10th and stock has gone up since then. Technically the stock look set for a breakout above 98 levels which can take it to 110 levels in few trading days or weeks. So if you are looking for some quick gains, look to enter GIC Housing finance with stoploss of 87 for a target of 110. Stoploss is very low but I think this might not come there and you can keep a stoploss of few rs below CMP i.e 93 levels as stoploss from trading perspective. The stock has not been able to close above 100 levels so any close above it can bring some quick move in it.

2) Neyveli Lignite – The company is yet to come out with results on 28th May. The stock has been trading in range for few weeks and did not break 144 levels on downside. Now it is at upper end of range and can face resistance in area of 155-156. On crossing this, it can easily go to 163 levels. So people can look to enter this stock with stoploss of 145 or for higher stoploss around 149 for a target of 163 in few trading days or weeks.

3) Supreme Industries – The company moved smartly today and closed at higher end. If it can sustain the momentum it can easily go to 550 levels in short term from current levels of 523. Again the support is below around 490-500 levels but you can look to enter it for trading gains for target of 545-550.

Hope you can track these stocks and only traders who are used to quick trading and hold stocks for few days or couple of weeks only enter into these trades by looking at intraday movement and also keeping a watch on market movement. Please do not expect updates on these picks as these are some of the stocks I see can do well but I am not posting them as my normal post, so would keep it as just recommendations and leave to your discretion if you need to enter or not.

Enjoy Trading!!!