Stock picks for November 20, 2012

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Stock picks for November 20, 2012
Maruti Suzuki India: Quotes, News
BSE 5709.10BSE Quote59.3 (1.04%)
NSE 5710.00NSE Quote59.8 (1.05%)
United Spirits: Quotes, News
BSE 2379.05BSE Quote7.35 (0.31%)
NSE 2378.90NSE Quote8.5 (0.36%)
Here are a few stock ideas from leading brokerage houses in the country.

Corporation Bank:

Firstcall Research is bullish on Corporation Bank  and has recommended buy rating on the stock with a target of Rs 439 in its November 16, 2012 research report.

"Started about 107 years ago in 1906, with an initial capital of just Rs.5000/-, Corporation Bank has recorded Rs. 2,36,611 Crore mark in business and even far more, with over 6427 service outlets across the nation, served by committed and dedicated 13,000 plus Corp Bankers. It has many reasons to cheer; predominant of them is, being able to participate in nation building by empowering the rural and urban population alike. Nationalised in 1980, Corporation Bank was the forerunner when it came to evolving and adapting to the financial sector reforms. In 1997, it became the Second Public Sector Bank in the country to enter capital market, the IPO of which was over- subscribed by 13 times."

United Spirits:

Shardul Kulkarni of Angel Broking has adviced traders to buy United Spirits on decline as a very strong higher top-higher bottom pattern on the daily chart is seen.

Kulkarni told CNBC-TV18, "United Spirits can correct on the lower side to around the eight day moving average, which comes around Rs 1,560 but on declines the stock is a clear buy because, we have a very strong higher top-higher bottom cycle on the daily chart and also see that the single day move of 30-35% that is showing that after that move we may see some sort of a correction. So any decline is a good opportunity to buy into United Spirits. I hold positions in United Spirits."


One can go long on Indiabulls Real Estate , if the stock is crossing the level of Rs 70, says Shardul Kulkarni of Angel Broking.

Kulkarni told CNBC-TV18, "Indiabulls Real Estate has given a very strong reversal pattern on the daily chart. The stock has tremendous resistance on the upside at around Rs 70. So long as Rs 70 is not crossed in case of Indiabulls Real Estate, I would not think of going long."

Maruti Suzuki:

One can buy Maruti Suzuki India on decline towards Rs 1,485, as the stock is expected to move to around Rs 1,550, says Shardul Kulkarni of Angel Broking.

Kulkarni told CNBC-TV18, "In case of Bharti Airtel , it is a level to book profits. Stock has clearly given a very strong run up over the past couple of trading sessions. Stock has moved from Rs 270-310-312 levels and I think it is quite overbought. In the near-term one may see a corrective move in case of Bharti Airtel. Although the daily chart structure shows a decent higher top-higher bottom cycle."

He further added, "Maruti Suzuki India can move to around Rs 1,550. So that would be a recommendation on the long side that, any decline towards Rs 1,485 can be used to buy into Maruti."

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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