Fwd: Equity Special Report - 13th September 2010

 

 

JSW STEEL(CMP Rs.1217)
STOP LOSS – Rs.1195 TARGET - Rs.1270 / Rs.1301
JSW Steel has been in accumulation phase since last 1-2 months. With strong supports at Rs.1143 and Rs.1100. JSW is poised for a good break-out next week. Especially above 1228…it has its first target at Rs.1270. And on a strong weekly close above Rs.1270, targets are 1301 and even Rs.1339—Rs.1400 seems possible. On a monthly chart, the fast stochastics is just coming out of 30-40 zone, and giving a buy call, by crossing its average line 5-13 EMA, has crossed 21 EMA and has generated a BUY CALL on daily charts.
A trader can maintain Stop-Loss at 1195 or maximum at 1161.

HIND OIL EXPLORATION LTD (CMP Rs.245)
STOP LOSS - Rs.234 on a closing basis TARGET - Rs.259 / Rs.274
Hind oil exploration looks good for the coming week for delivery based target of Rs.259 and Rs.274.Second target can take 2-3 weeks time to reach. 5 & 13 EMA band is taking support of 34 EMA on daily charts and ROC is in the buy mode in addition, there seems to be an inverted Head & Shoulder pattern developing. On weekly charts 5-13 EMA is about to cross 34 EMA which will be a very good sign for bulls.

AJMERA LTD (CMP Rs.225)
STOP LOSS - Rs.209 TARGET - Rs.240 / Rs.260
Ajmera seems poised for a fast track upmove, in coming weeks. It made a high of Rs.320 around in 2009 and a recent low of Rs.140.its slowly picking up strength from recent bottom with volume also picking up, this stock seems to have initial target of 240—260. September month closing may decide further upmove in this stock. Normally, such momentum stocks gets fired up, once they cross, some immediate resistance levels…here Rs.240-Rs.259 zone seems to be such area. One would not be surprised, if after reaching these target zone, the stock crosses Rs.320 levels. Recent cross over of 89-200 EMA looks to suggest good potential in this stock.

Source - Latin Manharlal Securities Pvt. Ltd.

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