Categorized | Featured, sensex

Indian stock market calls-Nitin Gupta(02/Sep/09)

Posted on 01 September 2009 by Anubhav Arya

Currentopics.com

Market Guru

Full Name : Nitin Gupta

Designation: Managing Director

Company Name: Gupta Consultancy Services

Experience in stock market: 9 years

Company Profile: Portfolio management Services

Today’s Call

Buy Aban Offshore(jackpot Call)

The company recently announced deployment of four of its seven idle rigs which will bring in revenues worth $695 million. All four newly contracted rigs of Aban Offshore are expected to be deployed from the third quarter of FY10. Considering the firm day rates and revival in rig utilisation levels, we believe that the remaining three idle rigs will also be deployed in the coming months. The new contracts will have only a marginal impact on our revenue forecast as we had already assumed rig deployment from Q3FY10 onwards and on similar day rates. The stock is attractively valued at a P/E of 2.9x and EV/EBITDA of 5.2x on FY11 estimated earnings. We reiterate our Buy call with the target price of Rs 2200

Technical Short Term Calls

Buy Ifci

IFCI has closed near the multiple resistance level of Rs 57 on the daily chart with rising volumes. Traders can buy this stock above Rs 57 with a stoploss of Rs 53 for a target of Rs 67 in 6 -8 trading sessions.

Buy ICSA

Buy ICSA with an investment view. Strong support for the stock is seen at Rs 185-170 region. The counter is trading above its Bollinger band of Rs 199 and short term target looks Rs 225-250

Buy Ispat Industries

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Huge delivery volume was witnessed in the stock. Buy with a strict stoploss of Rs 21.45 which is the 50-day moving average. Short term target looks at Rs 26 and in the medium term Rs 29

Buy Alstom Project

Buy Alstom Projects with an investment view. The stock has strong support placed at the 50-day moving average of Rs 501. Structure looks positive and if it maintains above Rs 535 then look for a short term target of Rs 595

Levels for Nifty

I expect a gap up opening for nifty where in 4700 will act as a hurdle and 4600 and 4580 will act as a support.

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Nitin Gupta @ 09867427824

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Disclaimer : These Recommendations are based on technical analysis and Personal observations. Due care has been taken while preparing these comments, no responsibility will be assumed by the author for the consequences what so ever, resulting out of acting on these recommendations.

Disclosure : The calls made herein are for informational purposes and are not recommendations to any person to buy or sell any securities. The information is derived from sources that are deemed to be reliable but its accuracy and completeness are not guaranteed. The above calls are based on the theory of technical analysis. The author does not accept any liability for the use of this site. Readers of this site who buy or sell securities based on the information.