Indian stock market calls-Nitin Gupta(07/Oct/09)

Categorized | Featured, sensex

Indian stock market calls-Nitin Gupta(07/Oct/09)

Posted on 07 October 2009 by Anubhav Arya

Currentopics.com

Market Guru

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 ROLTA

Rolta is a good play because of the fact that a lot of the businesses are domestic and I think we have seen that part of IT business also ramping up whether it is orders generated because of this unique identification number (UID) or the overall outlook on domestic IT business and I think from that perspective, Rolta does stand to gain. I would say Rolta is a stock that one should hold onto.I would strongly recommend to buy this stock for a price target of 220 in coming days.

Buy Jindal Steel and power

We have seen for the last few days is that Jindal Steel & Power has slowly come down from levels of Rs 640 to levels of around Rs 590-600. That’s where it formed a good base on intraday charts. Possibly with markets being good there is a good chance that the stock will reattempt and try to cross those levels of Rs 630-640. I would give a short-term buy with a target of Rs 680 and Rs 700 with a stop below Rs 590 at around Rs 588.

Buy Axis Bank

Axis Bank has raised USD 813 million through a combination of QIP, GDR and preferential allotment to promoters. We view this as an indubitably positive step as it gives the bank adequate capital for the next three years, while limiting the equity dilution to only 11%. We estimate post-issuance FY10ii RoE at 17.9% (19.3% earlier) and Tier-1 CAR at 11.7% (9.4% earlier). We are raising our FY10 and FY11 net profit estimates by 10% and 22% respectively, assuming higher loan growth, margins and non-interest income. The stock trades at a post-dilution FY11ii P/B of 2x with FY11ii RoE of 18%.I would advice a buy onthis with a price target of 1200 plus

Levels for nifty

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Nifty will se a gap up opening today because of the bonous announcement made by reliance industries. However the resistance lies at 5050 and 5080.

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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.