Wednesday, 5 September, 2007

Weekly Picks

Jyoti Structures: A weekly close of Rs 211 well above the 20-day moving average appears to be crucial, which may propel the stock above Rs 225. Stop loss at Rs 190-195

India Cements: The scrip has formed a deep rounding bottom on the daily chart, indicating an upmove after crossing important resistance levels (Rs253-259). Near-term support is at Rs 228

GE Shipping: The stock has been on a strong uptrend. A move above the resistance level of Rs 322 could take the stock to 360-365 levels. Stop loss of Rs 296

Tata Tea: The stock appears set for a pullback rally. Trading long in the scrip is recommended with support of Rs 730 and Rs 710 and an initial target of Rs 810 and then Rs 840

KLG Systel: We recommend a buy taking into consideration the company’s immense growth potential. At the current market price of Rs 445, the stock is trading at 11 times estimated FY08 earnings