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Technicalanalysisofstocks, recommends the stock of Persistent Systems, with a target price of Rs 395 and a stop loss at Rs 360.
Meanwhile Puneet Kinra, Senior Technical Analyst, Bonanza Portfolio, suggests the following stocks in Economic Times.
ITC: Kinna recommends to buy this stock for its uptrend. The target price set for the stock is Rs 208 and stop loss at Rs 182. ITC is trading in long-term uptrend. The stock is showing profit booking from Rs 206.50. The stock has good support zone in Rs 190-195 range. The stock may be bought for a target of Rs 208. Keep stop loss below Rs 182.
Mcleod Russel: Here also the recommendation is to buy the stock with a target price of Rs 305 and a stop loss at Rs 260. The scrip is trading in long term uptrend. On Wednesday, the stock broke out above resistance at Rs 277 with higher volumes. The stock may crossRs 300 in the coming days. It may be accumulated in Rs 272-284.
Chambal Fertilisers: For the fertiliser company also the recommendation is buy for its bullish trend. The target price for the stock is Rs 88 and place the stoploss at Rs 77. On Wednesday, the stock broke out above double bottom resistance atRs 81 with higher volumes. First, projected target of breakout is Rs 88. The scrip may be accumulated in Rs 79-83 range for target of Rs 88.
Subex: There is sell recommendation on this stock for a bearish outlook. The target price is Rs 55 with a stop loss at Rs 64. The scrip has been trading in a downtrend. On Wednesday, the stock made bearish engulfing candlestick pattern on daily charts, which shows that there is selling pressure from resistance at Rs 61. The stock may be sold in the Rs 59-62 zone.
Areva T&D: For this company the recommendation is to sell for its downtrend, the target price is Rs 245-240 and a stop loss at Rs 270. The stock is trading in short-term downtrend. There is selling pressure from resistance near Rs 265, which shows continuation of short-term downtrend. The stock may be sold within Rs 253-263 range for a target ofRs 240-245. The stoploss is above Rs 270.
FirstPost have suggested to keep track of the following stocks: Yes Bank, Mcdowell Holding"s, Patni Computer System, Patel Engineering, Century Textile, Orchid Chemicals, Reliance Communications, Tata Communications and Idea Cellular.
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