Stock tips for March 21, 2013

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March 21 stock tips: Infosys, Reliance Infra and more
Here are a few stock ideas from leading brokerage houses in the country.


Nirmal Bang is bearish on Infosys  and has recommended sell rating on the stock with a target of Rs 2685 in its March 20, 2013 research report.

"Infosys' stock has rallied nearly 25 percent over the past two-odd months following betterthan- expected 3QFY13 results. In our view, such a steep upward move implies great expectations of the street regarding an improved performance in FY14.


According to Ashu Madan, President of core client group at Religare Securities, one should continue to hold Wockhardt . He expects the stock to outperform rest of the market.

Madan told CNBC-TV18, "It is very welcome to see this kind of an investor who is making that kind of money with patience and holding on to this stock. This is commendable."

Globus Spirits:

According to Sanjeev Agarwal, CEO of Dynamix Research & Capital Management, it is not a good idea to hold Globus Spirits  for a very long-term.

Agarwal told CNBC-TV18, "Technically Globus Spirits chart is looking better than most other stocks but it has already touched Rs 120 today. I don't think it is a good idea holding it for a very long-term. Rs 120 is one level where you can cut down losses. Or you may get your prices around Rs 135-140 where you should exit."

Reliance Infra:

Ashu Madan, President of core client group at Religare Securities advised selling Reliance Infrastructure  above Rs 400 level.

Madan told CNBC-TV18, "For Reliance Infrastructure Rs 400-500 is a band where anytime one could look for an exit. Typically the psychology of everybody in the market is we tend to keep tracking our buying price which is not a very realistic operational angle to look at the stock because I have bought at particular price I should keep waiting. I don't think the average in this stock is a right strategy to do."

Cairn India:

According to Amit Gupta, Head of Derivatives at ICICI Direct, one can create short in Cairn India  around Rs 290-292 with a stop loss of Rs 298.

Gupta told CNBC-TV18, "Cairn India is a good example of long liquidation. If you look at the last five-six months from June 2012, we saw people who were taking a lot of bets on a better risk-reward in the stock were going long around Rs 300 and were looking for the better target. Eventually it did not move beyond Rs 340 at all and finally now in the month of February we saw the breakdown below Rs 300."

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.

Read more about: stock picks
Story first published: Thursday, March 21, 2013, 9:23 [IST]
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