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Featured: Three stocks that you can buy today

SI Reporter/Mumbai 26 Jun 12 | 05:40 AM

Last close:  5115

On Monday, Nifty opened on the positive note on hope of some measures announcement comes from government. Measures were not enough to give a boost to the markets as in the later half nifty wiped off all its morning gains and ended lower. Heromotocorp, Hindalco, Cipla, TCS, ONGC, HDFC Bank and Mahindra & Mahindra are the top losers from the heavyweight pockets. For next session, Nifty is likely to face support around 5080-5060 while the resistance is around 5160-5190.

Last close: Rs 698.40
Target: Rs 725

Recently stock has made a 52-week low of 615 on 15th May and then after it started recovery. The recovery remained quit strong resulting to form the bullish formation “Symmetrical Triangle" on daily charts which took around two months to form so the potential of rise is quite strong. Buy this strong for the upside target of 725 with SL of 685.

Last close: Rs 285.95
Target: Rs 294

On daily charts, stock has been trading sideways in tight range of 250-285 levels from past three months with positive bias. On Monday, it has broken the resistance of 285 on intraday basis with rising volume and manages to close above the same. So buying momentum can continue for coming session for the upside target of 294 with SL of 280.

Last close: Rs 167.10
Target: Rs 175

Stock has been bottomed out on charts after making the 52 week low of 128 and then rebounded strongly resulting to test the level of 165 in past few sessions. We are observing that there is a strong rise in volume over the past 5 sessions so we anticipate that the stock can move further to reach our target price of 175 with SL of 162.

Source: Mudit Goyal, technical analyst, SMC Global

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