Friday, October 9, 2015

Short Term Stock Recommendations

PRAJ INDUSTRIES: BUY Target : Rs 96 Stop Loss: Rs 85

It has been making higher top- higher bottom formation and continuously taking support at its rising support trend line. It crossed the immediate hurdle of Rs 90 levels with rising volume activities and gave the highest daily close of last thirty two trading sessions above its 50 DMA. So recommending buying the stock with the stop loss of Rs 85 for the upside target of Rs 96 levels.

BANK OF INDIA: BUY Target: Rs 152 Stop Loss: Rs 138

It has formed inverted head & shoulders which has bullish implication by its nature but requires to cross and hold above Rs 145-146 zones to get the pattern breakout for an upside potential target towards Rs 152 and higher levels. It headed towards its 50 DMA and has formed a strong support base at Rs 126-128 zones. So recommending buying the stock with the stop loss of Rs 138 for the upside target of Rs 152 levels.

JUST DIAL : BUY Target: Rs 1,040 Stop Loss: Rs 950

It is turning from the lower levels after forming an attractive price pattern. It has been holding the support base from last ten trading sessions and this support base is shifting to higher levels. According to its recent price behavior it is well placed to start next round of rally towards Rs 1040 and much higher levels. Even after the consolidation it is now adding built up of long position which also support our positive stance on the counter. One can buy the stock with the stop loss Rs 950 for the upside immediate target of Rs 1040 levels.

JSW ENERGY: SELL Target: Rs 86:Stop Loss: Rs 95

It has failed to cross its strong hurdle of 95 levels in the last week and now turning to the lower levels. Although it is trading in a broader range from last six trading session with negative bias but added significant built up of short position and now holding below Rs 89 may negate its immediate momentum and push the stock towards its next support of Rs 84 and Rs 82 levels. Thus recommending selling the stock with the stop loss of Rs 95 for the downside immediate target of Rs 86 levels.

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