Shubham Agarwal, CMT, AVP - Sr Technical Analyst, Motilal Oswal Securities is of the view that one can short Sesa Goa with a target of Rs 142.
Agarwal told CNBC-TV18, "The long term chart of Sesa Goa was forming a rounding bottom kind of a scenario. There was a very good support which was placed at Rs 167, so people who were looking for the metal space to go up might have been keeping that stop loss on the stock. But eventually that low has been broken down now and because of the news flow that is also building up which is negative for the stock. So, the rounding bottom formation has already failed which is giving us a very good target on the downside for Rs 142, so an investor having a medium term prospect can look to go short even at the current level."
Shubham Agarwal, CMT, AVP - Sr Technical Analyst, Motilal Oswal Securities is of the view that one can buy Mahindra and Mahindra (M&M) with a target of Rs 850.
Agarwal told CNBC-TV18, "In the auto space, M&M has been outperforming the peer companies for past some days. On the long term chart, what we see is that there was a multiple highs which was there at around Rs 740. It was able to sustain above that resistance and now it is consolidating which is calling for a continuation pattern.
RK Global has recommended hold rating on Infosys with a target price of Rs 2519 in its September 12, 2012 research report. According to the research firm, Infosys has been reeling on the revenue front for the last couple of quarters, Q1FY'13 has been eponymous as the company for the first time declined to give a guidance citing global macroeconomic issues.
"Infosys, India's second largest IT firm has acquired Zurich-based Lodestone Holdings AG in a deal valued at CHF330 mn or US$350 mn(over 1,900 crores). It indicates an increase in aggression in terms of inorganic growth for Infosys, something that we previously quipped about.
Motilal Oswal is bullish on Multi Commodity Exchange of India (MCX) and has recommended buy rating on the stock with a target price of Rs 1440 in its September 12, 2012 research report.
"Multi Commodity Exchange of India Limited (MCX) is a state-of-the-art electronic commodity futures exchange, offering futures trading in over 47 commodities, mainly including Gold, Silver, Copper and Crude Oil. It began operations in November 2003, and has over 86% share (as at 31 March 2012) of the Indian commodity futures market. In terms of contracts traded in CY11, it is the thirdlargest globally, second-largest in Gold, largest in Silver, second-largest in Natural Gas, and third-largest in crude oil."
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