Friday, August 6, 2010

Tata Motors can go upto Rs 920-925, Tata Power, RPower can give short term spurt:News Center

Tata Motors looks pretty good, in fact most of these Auto stocks look interesting as I was pointing out Auto could be a serious mover over the next two or three weeks. One should look at levels like Rs 920-925 coming in on Tata Motors. So from a trading perspective yes there is a lot of pre up move which has already gone by over the days but Hero Honda, Tata Motors and M&M these are three stocks which continue to look bullish with a 2-3 week perspective where you can get that 5% to 8% jump up if you are looking for it so very comfortable on this one.
ITC continues to look positive again the only fear factor in a lot of these stocks is the fact that they have run up to such a good degree. The fact that they have already hit new highs and if one is looking at a fresh entry so from a fresh entry point of view, I would still be uncomfortable on ITC, that doesn’t mean the stock can’t rally another 5% - 6% so for traders yes but from an investment angle still not that comfortable on something like ITC.
One could look at getting into stocks like Tata Power, RPower that could give you a certain short term spurt on the upside. The other sector that I already spoke about was to go into some of the banking names, so heavyweights like ICICI Bank look fairly comfortable from a very short term context. I definitely would like to play this market on the long side.
Unitech seems to be heading to about Rs 91-92 so these would all be stock I would be comfortable going home long with.

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Posted By Commodity MCX Tips