Top Trading Picks - August 27, 2010

Posted by admin in Mid Term Picks, Trading on Aug 26th, 2010 | no responses

Check out the top five stock picks of the day for trading by Vinit Pagaria, VP-Investment Strategies, Microsec Capital.

Jyoti Structure

Recommendation: Buy
Last Close: Rs 145.60
Target: Rs 161
Stop Loss: Rs 136
Jyoti Structure has made a symmetrical triangle and is making higher bottoms and lower tops since the past few months. It has taken support near Rs 136 and has risen on good volumes. The stock may test Rs 153, followed by Rs 161.

Mahindra & Mahindra

Recommendation: Buy
Last Close: Rs 619.30
Target: Rs 660
Stop Loss: Rs 595
M&M is forming a very strong base formation around Rs 600-605 and momentum indicators like RSI suggest that it can give a smart upmove in the near term. A move above Rs643 is likely to take the stock higher to Rs 660.

Indiabulls Real Estate

Recommendation: Buy
Last Close: Rs 174.20
Target: Rs 198
Stop Loss: Rs 162
Indiabulls Real Estate rose from the recent low of Rs156 to make a high of Rs202 in the previous week. It has retraced almost 61.8% of this upmove and is likely to take strong support in the zone of Rs 170-173.

ABG Shipyard

Last Close: Rs 234.90
Target: Rs 251
Stop Loss: Rs 224
ABG Shipyard has been moving in a trading band of Rs231 and Rs275 since the past six months and currently trades near the support level of Rs231. A reversal of the short-term trend appears imminent.

ITC

Recommendation: Buy
Last Close: Rs 163.15
Target: Rs 169
Stop Loss: Rs 161
ITC has been in a continuous uptrend and is likely to remain strong in the next few days. Momentum oscillators suggest further upmove and a move above Rs166 may take the stock higher to Rs 169 in the extreme short term.

Source: Economic Times