Stock picks for September 17, 2012

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Stock picks for September 17, 2012
Here are a few stock ideas with a long-term perspective in mind.

Reliance Industries

Buy Reliance Industries on dips, says Shardul Kulkarni, Sr Technical Analyst, Angel Broking. The stock has been a strong outperformer and going forward it will be still continue to outperform the market.

Kulkarni told CNBC-TV18, "I continue to be bullish in case of Reliance Industries. The stock has been a strong outperformer and going forward it will be still continue to outperform the market."

He further added, "We are looking at the previous important swing of around Rs 860 to Rs 865 as a potential target. Any decline in case of Reliance should be used to buy. Today morning the stock opened 1-1.5% higher and after that it has rallied forward. So, that clearly tells you that people are buying into the stock and you have strong volumes in case of today's session. So, this move we are expecting should reach around Rs 860 to Rs 865."

Asian Paints

Nirmal bang id bullish on Asian paints, According to his recent research report dated September 13, 2012, traders can buy Asian Paints at current price with a stoploss of Rs 3680 for a target of Rs 4250.

"Asian Paints has had a strong run over the past 2 years. After making a high of Rs 4021 on 31 May 2012, the stock has seen some consolidation in the form of a triangle and has given a breakout from this consolidation. The pattern implication suggests a target of Rs 4250.  The RSI has been consolidating in the 60 to 40 range in the consolidation phase and that has also broken out above 60 adding bullish evidence to our call.

Coal India

Sudarshan Sukhani of s2analytics.com is bullish on the Coal India and has recommended buy rating on the stock.

Sukhani told CNBC-TV18, "Coal India is still a buy. It is on a roll, it is in a continuous uptrend. My own sense is that sooner or later it will cross Rs 400 and it is a good intraday trade also because it is quite possible that Coal India will not participate in the big gap up that's going to happen. If that is so then it is a perfect trade for a few rupees for the intraday trader and for somebody who wants to carry it home."

Hero MotoCorp

Angel Broking is bullish on Hero MotoCorp Ltd and has recommended buy rating with target price of Rs 2,428.

Hero MotoCorp Ltd has tied up with Engines Engineering, an Italian designer company to design its future range of two-wheeler models. Engines Engineering provides end-to-end product development technology to its customers which include Honda, Yamaha, Ducati, Gilera, and Mahindra and Mahindara.

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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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Story first published: Monday, September 17, 2012, 8:43 [IST]
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