Indian stock market calls-Nitin Gupta(25/Sep/09)

Categorized | Featured, sensex

Indian stock market calls-Nitin Gupta(25/Sep/09)

Posted on 24 September 2009 by Anubhav Arya

Currentopics.com

Market Guru

Nitin Gupta

Full Name : Nitin Gupta

Designation: Managing Director

Company Name: Gupta Consultancy Services

Experience in stock market: 9 years

Company Profile: Portfolio management
Services

Today’s Call

Buy Deepak Fertilizers

Deepak Fertilisers (DFPC) halted the production of methanol in H2FY09 due to a sharp fall in the price; however, the same has restarted in Q2FY10. Management believes that OPM will be stable since benefit of improving chemical prices will be set off by improved raw material prices.Improved feedstock availability has eased our concerns on the stock. Hence, we have upgraded our earnings by 7.2% and 8.2% for FY10E and FY11E, respectively due to better capacity utilisation of plants. I therefore advise all clients to take long position in this stock for a target of 140 plus in the near term.

Buy Deccan Chronicle

At Rs 114, Deccan Chronicle Holdings is trading at 9.6x FY2011E Earnings, which is at a discount to its peers due to scalability issues as it is characterised as a single publication company with limited reach (only South). However, rising Profitability in IPL (possibility of un-locking) and successful foray into the Bangalore print market warrant a re-rating. Valuing the stock at 12x FY2011E EPS (40% discount to peers like Jagran and HT Media), I would give a target of 150 plus in short term.

Technical Calls

Buy Hikal

At a price of 360 with a price target of 400 plus in 4 to 5 days. There is a lot of fund based buying happening in this stock since last so many days.I would advise you all to put a stoploss of 345 and trade long in this stock.

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Buy Reliance industries

At the opening bell between 2090 to 2110 for a intrday target of 2132 and 2147 by putting a strict stoploss at 2178.

Buy Tata steel

tata_steel2

between 510 to 517 for a intraday target of 526 and 532. It will face a major hurdle at 535.Keep a stoploss of 504 and go long

Levels for Nifty

level of nifty

The support levels for nifty are 4950 and 4900 and the resistance levels are 5025 and 5050. I expect a flat to gap up opening in the early trade.

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Disclaimer : These Recommendations are based on technical analysis and Personal observations. Due care has been taken while preparing these comments, no responsibility will be assumed by the author for the consequences what so ever, resulting out of acting on these recommendations.

Disclosure : The calls made herein are for informational purposes and are not recommendations to any person to buy or sell any securities. The information is derived from sources that are deemed to be reliable but its accuracy and completeness are not guaranteed. The above calls are based on the theory of technical analysis. The author does not accept any liability for the use of this site. Readers of this site who buy or sell securities based on the information.