Daily Trading Stock Picks - June 30, 2010

Posted by admin in Mid Term Picks, Trading on Jun 29th, 2010 | no responses

Check out the top five stock picks of the day by Birendrakumar Singh, Technical Analyst, Religare Securities.

TVS Motors

RECOMMENDATION: Buy
Last Close: Rs 115.50
Target: Rs 126
Stop Loss: Rs 108
TVS Motors has been moving in a range forming a triangle. On Tuesday, it witnessed a strong volume breakout from the pattern. It is expected to move higher up to Rs 126-129 levels, maintain a stop-loss of Rs 108.

Crompton Greaves

RECOMMENDATION: Buy
Last Close: Rs 265.20
Target: Rs 280
Stop Loss: Rs 256
Crompton Greaves on Monday witnessed a breakout from last week’s consolidated range-bound move. The close is above the crucial resistance level of Rs 263. It is expected to move higher up to Rs 280. Maintain a stop loss of Rs 256.

Power Finance Corporation

RECOMMENDATION: Buy
Last Close: Rs 296.35
Target: Rs 307
Stop Loss: Rs 289.50
For the past two trading sessions, PFC has witnessed a trend reversal. On Tuesday, it decisively broke the downward sloping channel resistance trend line. Volumes are comparatively higher. Maintain a stop-loss of Rs 289.50 for an upside target of Rs 307

IDFC

RECOMMENDATION: Buy
Last Close: Rs 172.35
Target: Rs 180
Stop Loss: Rs 168
IDFC on Tuesday witnessed a strong trading activity. It has formed multiple support at Rs 168-166 and has given a close above its past two trading sessions’ high. The stock is expected to move up to Rs 180. Maintain a stop-loss of Rs 168.