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October 19 stock picks: Ambuja Cements, Bharti Airtel and more


Stock picks for October 19, 2012
Here are a few stock ideas from leading brokerage houses in the country.

Ambuja Cements:

Sudarshan Sukhani, advice traders to buy Ambuja Cements around Rs 190.


Sukhani told CNBC-TV18, "I would not touch Karnataka Bank and that does not mean the stock is not going up. It means that trading has its own methodology. You buy stocks that have the potential to go up and that have a reasonable setup that justifies the risk that we take. Karnataka does not have that."

Jaiprakash Associates:

One can maintain long positions in Jaiprakash Associates around Rs 97-98, says Amit Harchekar, IIFL.

Harchekar told CNBC-TV18, "Jaiprakash Associates (JP Associates) is showing good momentum in last few days. In fact the stock has managed to take out the resistance of Rs 90 quite comfortably and the volumes are indicating that this upmove could sustain all the way towards Rs 97-98. So, again at these levels one can maintain long positions in JP Associates."

Bharti Airtel:

One can short Bharti Airtel , if its crosses the level of Rs 270 as there is no significant move seen in the stock, says Amit Harchekar, IIFL.

Harchekar told CNBC-TV18, "Telecom stocks are still trading into a tight band. I am not seeing Bharti Airtel to move significantly beyond Rs 275 levels. So, any upmove towards Rs 270 becomes again a shorting opportunity."

TV18 Broadcast:

According to A C Choksi, traders can buy TV18 Broadcast on dips at Rs 25 with a stoploss of Rs 21 for a target of Rs 47-51-58 in its October 18, 2012 research report.

"On the oscillator front, we saw positive crossover of RSI its After the sharp fall from Rs. 134 to 17.15 , the stock took made "Bullish Engulfing Pattern" in Monthly chart MACD also took upwardmovement andmoved above its average, which supports the buy call on the stock. andmoved up. It also made higher high in monthly chart, first time after October 2011 with huge volumes. average in monthly chart, which indicates reversal on cards."

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: Friday, October 19, 2012, 8:46 [IST]
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