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Stock picks for August 16, 2012
Tata Steel: Sudarshan Sukhani of s2analytics.com is bullish on Tata Steel and has recommended buy on dip
Sukhani told CNBC-TV18, "Tata Motors in the morning the suggestion was that Rs 220 as a support is holding and we should be looking to buy it. That remains and markets will decide what they want to do, so it is only a judgement or a perception but my sense is that a lot of these midcaps and largecaps which were beaten down are now ready to go for atleast a short-term uptrend that applies to Tata Motors also. We saw a rally, we saw a decline that decline seems to be over and another move towards Rs 250 is quite likely."
ONGC: Prabhudas Lilladher is bullish on Oil and Natural Gas Corporation (ONGC) and has recommended accumulate rating on the stock with a target of Rs 301 in its August 13, 2012 research report.
Coal India: Pabhudas Lilladher is bullish on Coal India and has recommended buy rating on the stock with a target of Rs 390 in its August 13, 2012 research report.
"Coal India (CIL) reported Q1FY13 earnings marginally below our expectation on account of lower-than-expected realizations in E-auction. However, expansion in FSA realizations (would be further boosted by increase in WCL prices) and low employee cost in the quarter reinforces our positive outlook for earnings in coming quarters. This would more than offset the weakness in E-auction, partially driven by seasonal fall in grades. We maintain our ‘BUY' rating with TP of Rs390, 12.5x FY13E core EPS."
Canara Bank: Magnum is bullish on Canara Bank and has recommended buy rating on the stock with a target of Rs 440 in its August 07, 2012 research report.
Educomp Solutions: IIFL is bearish on Edicomp Solutions and has recommended sell rating on the stock.
Educomp Solutions on daily chart has violated support of Rs 157 on a closing basis and this has lead to breakdown from rectangular trading pattern with nest intermediate support at RS 249. The downtrend is likely to continue in the near term after the stock closed below its 50-day moving average.
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