Stock Tips for 07/03/08 - Daytrading
All traders are suggested to use stop losses while trading based on their risk taking capacity.
NIFTY charts have indicated a minor trend reversal so the next few days may favour the bulls.
Our stock picks for daytraders :-
ASIAN ELECTRONICS LTD.
NSE SCRIP CODE - ASIANELEC
Recommendation - BUY
Current Market Price - 222.50
Day Target - 230. If stays above 230 will try to cross 235 and touch 240.
Outlook - The stock has formed a very good bullish pattern on the charts.
Fundamental - The stock trades at a PE of just 7.03 and the current market value is less than its book value of 245! It is certainly a value buy and looks poised to deliver some good returns in the short term.
HINDALCO INDUSTRIES LTD.
NSE SCRIP CODE - HINDALCO
Recommendation - BUY
Current Market Price - 207.85
Day Target - 215. If stays above 215, it may try to set a new 52 week high.
Outlook - It is clear that Hindalco is on its way to set a new 52 week high. If not today, within the next 3 days.
Fundamental - Globally metal prices are on the rise and Hindalco is a major exporter. Hindalco is currently undervalued at a PE of just 10.18. This is a good stock to buy for short term gains.
Most midcap stocks are still not showing any sign of strength and trading in them may be very risky today.
NOTE --- Trading targets are indicative and there is a margin of error. Traders are suggested to set their own targets based on the prevalent momentum in the market.
Disclaimer - Stock market recommendations are based on fundamental and technical analysis of stocks and no profit can be guaranteed. Investors are advised to make their own investment decisions with the information provided. Any investments, trades, and/or speculations made based on the ideas, opinions, and/or forecasts, expressed or implied herein, are committed at your own risk.
All traders are suggested to use stop losses while trading based on their risk taking capacity.
NIFTY charts have indicated a minor trend reversal so the next few days may favour the bulls.
Our stock picks for daytraders :-
ASIAN ELECTRONICS LTD.
NSE SCRIP CODE - ASIANELEC
Recommendation - BUY
Current Market Price - 222.50
Day Target - 230. If stays above 230 will try to cross 235 and touch 240.
Outlook - The stock has formed a very good bullish pattern on the charts.
Fundamental - The stock trades at a PE of just 7.03 and the current market value is less than its book value of 245! It is certainly a value buy and looks poised to deliver some good returns in the short term.
HINDALCO INDUSTRIES LTD.
NSE SCRIP CODE - HINDALCO
Recommendation - BUY
Current Market Price - 207.85
Day Target - 215. If stays above 215, it may try to set a new 52 week high.
Outlook - It is clear that Hindalco is on its way to set a new 52 week high. If not today, within the next 3 days.
Fundamental - Globally metal prices are on the rise and Hindalco is a major exporter. Hindalco is currently undervalued at a PE of just 10.18. This is a good stock to buy for short term gains.
Most midcap stocks are still not showing any sign of strength and trading in them may be very risky today.
NOTE --- Trading targets are indicative and there is a margin of error. Traders are suggested to set their own targets based on the prevalent momentum in the market.
Disclaimer - Stock market recommendations are based on fundamental and technical analysis of stocks and no profit can be guaranteed. Investors are advised to make their own investment decisions with the information provided. Any investments, trades, and/or speculations made based on the ideas, opinions, and/or forecasts, expressed or implied herein, are committed at your own risk.