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Stock Strategy: BEML

Surabhi Roy/Mumbai 01 Jun 12 | 11:20 AM

Given all the recent news developments regarding the company, should you go ahead and invest your money in this counter? Check out what the technical charts suggest.


Smartinvestor : Nifty declined over 6% in the May series. How do you see June panning out for the Indian equities? What are you advising your clients at the current juncture?

Mudit Goyal :  "Sell in May and Go Away" strategy certainly held this year with Nifty shedding close to 6% in the May series. Selective momentum indicators on charts suggest buying; bounce is expected from current level. For June series, one can make long position in nifty for the target of 5080-5120.

Smartinvestor : Can you suggest three stocks from the Nifty pack (along with targets) where one can take a long position in for the June series?

Mudit Goyal : Long BHARTIARTL for the target of Rs 325, Long HCLTECH for the target of Rs 530, Long ITC for the target of Rs 245.

Smartinvestor : United Spirits and BEML announced their respective March quarter results recently. Do you track these two counters?



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