Stock Picks - Please read disclaimer in Earlier Posts

Following are the ideas we are carrying forward on stocks & indices:

•  Nifty – Long since 5244 for a target of 5300 (First target of 5270 met)
•  Amtek Auto – Long since 186 for a target of 196 (5% return)
•  DLF – Long since 390 waiting for best target of 412 (Target 3 of 400 met as mentioned in the Weekly Market Outlook) (3% return already met with, at best target we achieve a 6% return)
• HDFC Bank – Long since 1713 waiting for Target 3 (1750) & Best Target (1760) (Target 2 of 1732 met as mentioned in the Weekly Market Outlook) (Only 1% return with target 2 being hit but at best target we achieve a 3% return) 

Following are the new stock ideas for the week
·         Reliance Industries – Short for a target of 1050. CMP 1081 (3% return)
·         Unitech – Long @ 90.4 for a target of 95 (5% return expected)
·         Bharti Shipyard – Long @ 296.5 for a target of 311 (5% return expected)

Also, as one of my friends had asked me about Clutch auto which is currently trading @ 70.9 & my advice to him would be to book profits around 75 – 77 levels instead of betting for a target of 120. I believe that 75 – 77 levels would be hit because of a huge volume built up in this stock. However the stock has had too many gap up openings and is bound to fall and check those gap up openings starting from levels of close to 58.