US stocks recorded yet another intraday trading session lacking volumes as Wall Street remained in holiday mode whereas conviction was shaken after Consumer confidence unexpectedly deteriorated in the month of December while news on Housing too remained weak. Most indian share markets in Asia are trading with moderate gains in the morning.
Tata Power (BUY, above Rs1342, Target Rs1385):
The share has done pretty much nothing in last one week, besides moving in a trading band between Rs1314-1270. On Tuesday, the Intraday stock Trading crossed above its 200-DMA and 100-DMA comfortably, there seems to be no immediate threat to uptrend as long Tata Power holds above the levels of Rs1317. displaying a breakout from a range bound pattern, sharp up move is expected above Rs1342, which turns out be 50-DMA. We advise entering stock above Rs1342 with stop loss of Rs1320 for target Rs1385.
Lupin (BUY, above Rs462, Target Rs486):
After moving sideways for last couple of weeks, share has signaled a breakout from congestion Intraday share Trading band of Rs443-460 accompanied with expansion in volumes. Such breakout was also followed with positive crossover in RSI and new buy signal in the MACD which corroborates forthcoming up move in the counter to be smooth and a sustainable one. Adding to it an appearance of classic 'piercing line' pattern on 10th Oct 2010 gave initial signs, that bottom was in place however for buying momentum to get accentuated, a breakout was needed which happened to take place in yesterdays trading session. We advise buying Intraday share Tips For Today above Rs462 with stop loss of Rs450 for target of Rs486.
After moving sideways for last couple of weeks, share has signaled a breakout from congestion Intraday share Trading band of Rs443-460 accompanied with expansion in volumes. Such breakout was also followed with positive crossover in RSI and new buy signal in the MACD which corroborates forthcoming up move in the counter to be smooth and a sustainable one. Adding to it an appearance of classic 'piercing line' pattern on 10th Oct 2010 gave initial signs, that bottom was in place however for buying momentum to get accentuated, a breakout was needed which happened to take place in yesterdays trading session. We advise buying Intraday share Tips For Today above Rs462 with stop loss of Rs450 for target of Rs486.
Long Kotak Bank Jan Future in range of Rs450-454 for the target price of Rs470 with a stop loss placed at Rs440. Lot size: 500
Remarks: Net maximum profit of Rs10,000 and net maximum loss of Rs5,000.
Long GSPL Jan Future in range of Rs116 - 117 for the target price of Rs121 with a stop loss placed at Rs113.5. Lot size: 2000
Remarks: Net maximum profit of Rs10,000 and net maximum loss of Rs5,000.
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Intraday Stock Tips
