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Indian stock market calls-Nitin Gupta(17/Sep/09)

Posted on 16 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

Nifty Marches Ahead

Nifty has made a smart on Wednesday by gaining around 60 points through the day. All the metal and the banking stocks helped nifty gained so much and therefore manages to closes near 4950 levels. All our recommendations rocked on Wednesday. I have recommended Tata steel at 460 which has made a high of 531, Tata motors was recommended at 560 which made a high of 609 in intraday only. Renuka Sugars was recommended at 194 which made a high of 206 and the rising star was recommended at 120 which was closed on 131. Just follow our tips and start minting money.

Buy Tata Tea

Considering the aggressive growth plans, I believe that Tata Tea is a good investment proposition for the medium to long term. However, with the rising raw material prices we expect a moderate performance in the near term and believe that trading at 12.8x its FY2011E earnings the stock has limited upside in the near term. I maintain a ‘Hold’ recommendation on the stock with a price target of Rs 959. Keep a stoploss of 860 and fo long.

Buy Mercator Lines

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We have seen good price and time correction on Mercator Lines and it is just forming consistently higher bottoms on this and we have seen increased activity since last one or two days. The resistance for this stock is about Rs 70, so we could buy the stock with a target of Rs 70 and keep a stoploss of Rs 54 on this stock. The medium target for this stock will be 82.

Levels For nifty

I expect a positive and a gap up opening for the nifty. The resistance levels are 5000 and 5100and the support levela are 4900 and 4850.

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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.