Strategy for the week:-
Traders should look for initiating longs above 5,665 for target of 5,740 with stop at 5,600 on close basis. Option traders can look for initiating put positions around 5,750 levels with stop of 5,770 on closing basis. Banks and Infra stocks to remain in focus.
Sell Hero Honda with a target price of Rs. 1,566 as against the current market price (CMP) of Rs. 1,785.
Hold Hindustan Zinc with a target price of Rs. 148 as against the current market price (CMP) of Rs. 138.
Buy Yes Bank with a target price of Rs. 398 as against the current market price (CMP) of Rs. 327.
ING Vysya Bank:-
The stock closed at Rs 363.75 on July 21, 2011. It made a 52-week low at Rs 283 on Feb. 8, 2011 and 52-week high of Rs 444 on Nov. 1, 2010. The 200 days exponential moving average (EMA) of the stock on the weekly chart is currently at Rs 276.70.
One may go long in the range of Rs 360-Rs 363 levels with closing below stop loss of Rs 350 levels for the target of Rs 393-Rs 403 levels.
NIIT:-
The stock closed at Rs 58.15 on July 21, 2011. It made a 52-week low at Rs 42.70 on Feb. 10, 2011 and 52-week high of Rs 74.45 on Sep. 21, 2010. The 200 days exponential moving average (EMA) of the stock on the weekly chart is currently at Rs 62.91.
One may go for accumulation in a range of Rs 56-Rs 58 levels with closing below stop loss of Rs 52 levels for the target of Rs 67- Rs 69 levels.
Alstom Projects India:-
The stock closed at Rs 578.85 on July 21, 2011. It made a 52-week low at Rs 491.95 on June 20, 2011 and 52-week high of Rs 899 on Oct. 12, 2010. The 200 days exponential moving average (EMA) of the stock on the weekly chart is currently at Rs 541.98.
One may accumulate in the range of Rs 581-Rs 584 levels with closing below stop loss of Rs 561 levels for the target of Rs 640 - Rs 660 levels.
Hold Hindustan Zinc with a target price of Rs. 148 as against the current market price (CMP) of Rs. 138.
Buy Yes Bank with a target price of Rs. 398 as against the current market price (CMP) of Rs. 327.
ING Vysya Bank:-
The stock closed at Rs 363.75 on July 21, 2011. It made a 52-week low at Rs 283 on Feb. 8, 2011 and 52-week high of Rs 444 on Nov. 1, 2010. The 200 days exponential moving average (EMA) of the stock on the weekly chart is currently at Rs 276.70.
One may go long in the range of Rs 360-Rs 363 levels with closing below stop loss of Rs 350 levels for the target of Rs 393-Rs 403 levels.
NIIT:-
The stock closed at Rs 58.15 on July 21, 2011. It made a 52-week low at Rs 42.70 on Feb. 10, 2011 and 52-week high of Rs 74.45 on Sep. 21, 2010. The 200 days exponential moving average (EMA) of the stock on the weekly chart is currently at Rs 62.91.
One may go for accumulation in a range of Rs 56-Rs 58 levels with closing below stop loss of Rs 52 levels for the target of Rs 67- Rs 69 levels.
Alstom Projects India:-
The stock closed at Rs 578.85 on July 21, 2011. It made a 52-week low at Rs 491.95 on June 20, 2011 and 52-week high of Rs 899 on Oct. 12, 2010. The 200 days exponential moving average (EMA) of the stock on the weekly chart is currently at Rs 541.98.
One may accumulate in the range of Rs 581-Rs 584 levels with closing below stop loss of Rs 561 levels for the target of Rs 640 - Rs 660 levels.
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