Stock picks for August 22, 2012

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Stock picks for August 22, 2012
Markets are expected to open lower in line with Asian markets. Here are a few stock ideas that could help discerning investors in the medium to long term.

Axis Bank

Shubham Agarwal, Motilal Oswal advice traders to buy Axis Bank at current levels with a target of Rs 1140.

Agarwal told CNBC-TV18, "Banking sector is something which is lucrative at the current level. If we just plot the relative strength chart, we can clearly see that there was an inverted head and shoulder on a relative strength chart. That broke out of the neckline but failed."

Cairn India

Motilal Oswal has maintained neutral rating on Cairn India with a target of Rs 350, in its August 17, 2012 research report.

"We believe Cairn India's initial two overseas acquisitions indicate its conservative approach towards overseas expansion as it has chosen: (1) politically stable countries, and (2) discovered field as in the case of Block 1 in South Africa. Earlier, it had indicated that its acquisition strategy is to limit its operations only to 2-3 regions for better control."

Shivam Autotech

Firstcall Research is bullish on Shivam Autotech and has recommended buy rating on the stock with a target of Rs 149 in its August 17, 2012 research report.

IDFC

Firstcall Research is bullish on IDFC and has recommended buy rating on the stock with a target of Rs 159 in its August 17, 2012 research report.

We expect that the company surplus scenario is likely to continue for the next years, will keep its growth story in the coming quarters also. We recommend ‘BUY' in this particular scrip with a target price of Rs 159 for medium to long term investment," says Firstcall Research report.

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DISCLAIMER: GoodReturns provides you with information covering shares, futures and options based on broker's reports as stated on various media. Investors are, however, warned that they should NOT take any buy or sell decision based on these views expressed in the article. Investors should consult their own financial and share advisors before taking purchase or sale decisions. GoodReturns does not take any responsibility for any losses incurred by investors who take their cues from the above article.

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