GAIL India;The GAIL India has good support at Rs 385-390.
Broadly if you look at the price chart of the GAIL India the stock price has been moving in a range, I think Rs 430-440 on the upside have been capping any kind of upmoves while Rs 390-385 has been acting as a good support.
He further added, “I think there is no fresh signal for any kind of violation of this range.
I think still continue with the range bound outlook on the stock price. I think Rs 390-395 could be good levels to take some long positions because of the very favourable risk reward equation. So that’s the only view on GAIL India.”
Hold Zee News; The view that hold Zee News for a target of Rs 80-85.
Zee News has been buzzing for last three-four weeks. We were looking at a target of around Rs 80-85. I think Rs 80-85 would be a good supply area. So hold on till those levels are being met.
Buy Tata Motors; The view that one can buy Tata Motors.
We are very positive on Tata Motors. The only thing is that the stock price has time and again failed to pass the levels of Rs 810-820 – that’s the supply range. So once it breaks beyond this level it could be another good momentum catch for the short-term traders. Otherwise this stock price probably could be available at levels of around Rs 765-770. So those would be good levels to buy.
Bajaj Hind; The view that Bajaj Hindusthan has support at Rs 125-130.
We have been watching the entire sugar sector closely for a reversal. I think the first signal which we are getting today is on charts of Balrampur Chini. This stock has made kind of a double bottom formation at levels of around Rs 88 so it’s held on to those levels. I think the common factor among all this price charts is that they have fallen a lot in the last three months with extremely oversold on weekly charts and they are also very close to their long-term support level for e.g. Shree Renuka Rs 68-66 should be very strong support area.
He further added, “For Bajaj Hindusthan around Rs 130-125, the entire range is filled with lot of supports. So you will see some kind of a technical bounce back. We are now slightly turning positive and today we have got the first signal on the charts of Balrampur Chini. So I expect at least a trading bounce back which could take the stock to as high as around Rs 101-102.”
Hold Jet Airways; The view that one can hold Jet Airways with expectation of another 10%.
Jet Airways looking good; it’s a continuation of move which started on Friday. After as big consolidation of around 15-20 days the stock price was moving in a very narrow range and now it’s looking up. I think the previous highs of around Rs 595-600 could be tested again and that’s where supply can kick in. So from trading point of view hold on the stock another 10% could be realised.
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