Stocks In News Thursday - 10th May 2012

M&M:

As a follow up, the stock is crucially positioned at its most important support level of 650. The stock has witness a good delivery volume today with a negative closing. If the stock breaks it support of 650, then the stock is expected to slide to 600 – 575 levels. With a strict stop loss at 675-680, traders can go for short at current levels.

HeroMotors:

This stock has breached its support at 1950 levels and closed well below its 200 dma at 1990. This is another stock to go for a short at currents for high risk traders and low risk traders can go short at 1950 levels with a strict stop loss at 1990-2010. The stock can find a immediate support at 1800 – 1775 levels.

McDowell-N:

The stock is witnessing a continuous down slide for the past week and has breached its intra week support of 710 levels. The stock may witness a support at 580 levels and being a high beta stock, this stock may fall along with the market in the coming days.

Indusind Bank:

With a strict stop loss at 315-320, this stock can be shorted at current levels for a target of 295-280.

TataPower:

This stock is facing a stiff resistance at 103-105 levels. The candle formation of the stock does pose for a immediate fall upto 93 and 90 levels. With a strict stop loss at 105, punters can go short in this scrip for the stated level of 93-90.

Ranbaxy:

The company has announced a four fold increase in its profit for the quarter end March at Rs.1246 cr. With the successful launch of two drugs in the US and the launch of atorvastatin, the generic version of the world’s best selling Lipitor, the company is poised to witness good growth and to report good results in the coming months. The stock does pose a good positive breakout and if closes above 530 level, it may reach 600. A good buying at current levels with a strict stop loss at 475-480.

 

What are your impressions about KIngfisher Airlines at this stage.. Buy from a long term perspective???

 

Ram,

Currently aviation sector is not doing good. Especially, Kingfisher has got deeply rooted problems with its debt. Banks are not willing to restructure their loans and tax department is throwing its axe from the other end. My personal opinion would be to stay away from Kingfisher at least for the current being and watch how it is going to restructure the debts. Unless you get a correct picture of this, it is not recommended to burn your fingers on KF.