From last week, we missed on Ashok Leyland but in case you’re still holding it you can sell it at 75 which should give you a decent exit point. All other stock picks hit our target in the week (http://denipconsultants.blogspot.com/2010/08/stock-ideas-3rd-week-of-august-2010.html).
In terms of new picks following are some ideas:
· Reliance Industries – Buy at 992.8
o Target 1 – 1001 (1% return)
o Target 2 – 1025 (3% return)
§ Stop Loss – 980
· Polaris – Buy at 173.2
o Target 1 - 175 (1% return)
o Target 2 - 180 (4% return)
§ Stop Loss – 172
· LUPIN – Buy at 1863
o Target 1 – 1873 (1% return)
o Target 2 – 1920 (3% return)
§ Stop loss 1821
Nifty looks highly overbought and call retrace from here so hedge these longs with a Nifty PUT or selling a Nifty CALL. The prices mentioned above are all August futures prices so kindly keep the discount/premium in mind while trading in cash.
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