Top Trading Stock Picks - Oct 29, 2010

Posted by admin in Mid Term Picks, Trading on Oct 28th, 2010 | no responses

Shown below are some of the top trading stock picks for today recommended by DD Sharma, (Senior VP-Research) Anand Rathi, Financial Services.

Alok Textiles

Recommendation: Buy
Last Close: Rs 27.10
Target: Rs 32
Stop Loss: Rs 25
Alok Textiles has given a weekly breakout with huge volumes, indicating good strength in the counter. It’s also heading upwards with a higher-top-higher-bottom formation thus suggesting that rally is likely to be continued in the stock.

3i Infotech

Recommendation: Buy
Last Close: Rs 68.15
Target: Rs 75
Stop Loss: Rs 65
3I Infotech has seen strong volumes for the past four weeks. We have seen a breakout above Rs 65 levels, which acted as strong resistance in the counter in the past. Now, Rs 65 level becomes a strong support area for the stock.

M&M

Recommendation: Buy
Last Close: Rs 733
Target: Rs 770
Stop Loss: Rs 715
M&M is showing positive movement along with the entire sector. The stock is sustaining the levels along with volumes. RSI oscillators also indicate a positive signal for the counter. One can buy the stock with a stoploss of Rs 715.

HDFC

Recommendation: Buy
Last Close: Rs 692
Target: Rs 750
Stop Loss: Rs 663
HDFC has seen profitbooking over the past two days; the stock now taken support at Rs 675-680 levels. RSI Oscillators are showing an oversold signal, which indicates tha the stock may turn to positive zone and may move upwards.

HDFC Bank

Recommendation: Buy
Last Close: Rs 2,285
Target: Rs 2,380
Stop Loss: Rs 2,240
HDFC Bank has witnessed sustained selling pressure and now trades at lower levels. We are expecting a pullback in the counter from current levels, led by shortcovering. Indicators are also giving buy signal to the counter.