Stock tips for March 22, 2013

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    March 22 stock tips: Tata Steel, SKS Micro and more
    Here are a few stock ideas from leading brokerage houses in the country.

    Tata Steel

     

    Rahul Mohindar Of Viratechindia is of the view that one can sell Tata Steel with a target of Rs 263.

    Mohindar told CNBC-TV18, "I have been very bearish on Tata Steel  and I still think you could be looking at selling into Tata Steel finally somewhere between Rs 305-310 that is where we are heading. I would use a stop clearly at Rs 338-339 and trade it out that way. So it does make sense to put on even a short at this point.

    Canara Bank

    Sudarshan Sukhani of s2analytics.com feels Canara Bank is still a short selling idea.

    Sukhani told CNBC-TV18, " Canara Bank  is still a short selling idea. There is no up move in this. The Nifty has moved up 15-20 points but a lot of these stocks are still languishing. Ideally we want to see some rallies because you can sell at a better price. PSU banks are still selling opportunities. The chances are that they will slide lower before they rally."

    Tata Motors

    Parag Doctor, Head - Trading Strategies, Keynote Capital's Ltd is of the view that one can hold Tata Motors buy if there is a dip towards the Rs 240 levels and the upper side in the next year or so would be maybe the Rs 330-340 levels at least.

    Doctor told CNBC-TV18, "There is a short-term decline in Tata Motors . The Rs 300-310 levels prove to be pretty difficult resistance in the last couple of weeks and the sell-off started from there. The technical level which we are looking at closely is around Rs 268-269 which is where the investor has bought the stock that is the 200 day moving average (DMA)."

    SKS Microfinance

    Phani Sekhar, Fund Manager, Angel Broking is of the view that investors can hold SKS Microfinance .

     

    Sekhar told CNBC-TV18, "The investor can hold SKS Mircofinance and maybe think about averaging some more because FY14 is very important. That is the next financial year because that will be something that will decide whether the company is decisively turning around or not. A non Andhra Pradesh book has been looking good. Importantly they have Rs 500 crore of tax benefits that the can very effectively use going forward. All the valuations at this point in time look a little stretched. But at lower levels the investor can buy more and average out. Broadly the investor can hold on to the stock."

    Bharti Airtel

    According to Phani Sekhar, Fund Manager of Angel Broking, one can remain invested with the idea of averaging Bharti Airtel at lower levels.

    Sekhar told CNBC-TV18, "There are bigger headwinds in front of the telecom industry and especially Bharti Airtel . You still do not have the inter-circle roaming of 3G issue being settled so you are hearing disparate views on that, then you have the issue of refarming and the spectrum price discovery which we don't know the fate of what happens to those and these are significant capex things."

    GoodReturns.in

    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, March 22, 2013, 9:23 [IST]
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