Sensex Technical View :
In the near term 16900 and 17300 on upside would decide the next move in near term. Although significant resistances and supports are on a wider range.
Its time to be stock specific.
Stocks to watchout for :
VALUE PICKS -
The following stocks have holdings in other companies to the extent of 1.5-2.5 times the current mkt cap
Maharashtra Scooters ( discussed earlier )
JK Agri Genetics ( discussed earlier )
Limited downside but could give a return of 20-25% over the next 3-6 mths.
Bank of India if closes above 400 or trades for some time expect a quick move to 425-400 in near term.
IDEA , Bharti Tele and RCOM are showing positive divergences on charts. High risk traders can buy on every decline with a stop of recent low and expect a 10 % bounce in next 3 weeks.
Day call buy Sterlite at 885-890 with a stop of 878 tgt 905-917.
LONG TERM SAFE PICKS :
Investors looking for long term slow gains should look to buy the above stocks at current levels. The above two stocks can give stability to the portfolio as well.
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