According ICICIdirect.com recent research report dated September 12, 2012, traders can buy Bata India around Rs 920-941 with a stoploss of Rs 860 for a target of Rs 1050 for the time frame of 3 months.
Bata India has been consolidating in the range of 825-940 since May 2012, resulting in a relatively lower open interest in the last couple of series. However, as the stock has faced resistance on multiple occasions near 940, shorts have been created near this level. As the stock has broken out of this consolidation range, it is likely to witness short covering Bata India added more than 15% open interest in the September series .
Anil Manghnani, Modern Shares & Stock Brokers has recommended buying Sun Pharma on every fall.
Manghnani told CNBC-TV18, "Just buy Sun Pharma on every fall. That's the story that is going with FMCG and pharma. At some point, valuations get stretched, but who will argue with valuations, when there is a bull market, especially in FMCG and pharma. But it is encouraging to see that some of the money is moving into midcap and smallcap pharma."
Sudarshan Sukhani of s2analytics.com adviced buying Tata Motors or its DVRs on dips, with a target of Rs 270.
Sukhani told CNBC-TV18, " Adani Enterprises is moving up for a couple of days. But beyond that, I am not very upbeat. For the short-term, most stocks have turned the tide and have become short-term buying opportunities. That applies to Adani also. But it's not a position trade for the buyer. It's certainly not an investing idea."
Prabhudas Lilladher is bullish on Gujarat State Petronet (GSPL) and has recommended accumulate rating on the stock with a target price of Rs 87, in its September 12, 2012 research report.
"GSPL is effectively charging Rs1032/tscm currently, translating into an decline in tariff of 12.48%. The order removes a long pending overhang on the stock as a fear over a significant tariff cut subsides. If we extrapolate the similar decline in tariff for the lower pressure pipeline, the assumed tariffs of Rs885/tscm would stand reduced to Rs780/tscm. The same would translate earnings downgrade of ~11% for the current fiscal and ~2.5% for FY14 (our earlier blended tariff of Rs800/tscm for FY14).
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