Buy Lupin for target Rs.1760 -Karvy

Karvy Stock Broking has recommended outperformer rating on Lupin with a target of Rs 1760, in its December 31, 2009 research report. “Lupin’s branded play began with the launch of Suprax in the US market in February 2004. Since then the company has been able to make Suprax a US$74 mn brand and has been [...]

Crompton Greaves Trading strategy for December 31, 2009

Crompton Greaves (415) The stock has formed “Bearish Engulf” bearish candlestick pattern on daily chart. Daily RSI and MACDh are showing weakness. Weekly RSI has also given negative crossover in overbought zone. The stock has minor support at 412 level.  Once it breaks then bear will have strong grip. Looking at all the above evidence, [...]

Trading Pick for 31st December 2009 -BEML

BEML (1107) After successful formation of “Three White Soldier” bullish pattern on 29th December, the stock went into overbought zone.  Yesterday, the Stock has formed “Dark Cloud cover” bearish candlestick pattern on daily chart. Daily RSI has given negative crossover in overbought zone. After looking at all the above, weakness is likely to persist in [...]

stock pick for 31/12/2009 -Tata Chemical

Tata Chemical (333) After making a double bottom at 310 level, the stock is marching northward and yesterday the stock has broken and closed above previous swing high of 330 level with “Long White Candle” bullish candlestick pattern on daily chart. Daily Momentum indicators are exhibiting positive divergence. Looking at all the above observations traders [...]

Nifty outlook and view for 31/12/2009

Nifty (5169) Nifty has shown weakness and formed “Small Black Candle” bearish candlestick pattern. Daily RSI and Stochastic are exhibiting negative divergence in overbought zone. Strong intraday support formed at 5DEMA which is placed at 5139 level, Short term support placed at 20 DEMA which is at 5083 level. Technically scenario looks murky and selling [...]

FatPipe Networks India Files DRHP

Fatpipe Networks India is coming out with an initial public offering (IPO) of Rs 49 crore. It has filed a DRHP (draft red herring prospectus) with SEBI. Fatpipe’s core technology – router clustering, involves patented and patent-pending methods that provide the highest levels of optimization, reliability, security and acceleration of Wide Area Networks (WANs) and [...]

Buy Max India for a target of 295-ShareKhan

Sharekhan is bullish on Max India and has recommended buy rating on the stock with a target of Rs 295, in its December 30, 2009 research report. “Max India plans to raise around Rs 725 crore collectively through a Rs550 crore fully and compulsorily convertible debentures (FCD) issue and another Rs173.4 crore by way of [...]

Sell Wipro -IndiaInfoline

IndiaInfoline is bearish on Wipro and has recommended sell rating on the stock, in its December 30, 2009 research report. “Wipro rallied smartly from a low of Rs 180 in October-end 2008 to a recent peak of Rs 700 in second week of December 2009. Since past two trading session, the stock has struggled to [...]

Godrej Properties listing on stock exchange on January 5th 2010

Godrej Properties will list its equity shares issued via public issue on the exchanges on January 5, 2010. It has fixed the issue price at Rs 490 per share, at lower end of price band of Rs 490-530. The IPO (initial public offering) of 9,429,750 equity shares of Rs 10 each was opened during December [...]

United Bank of India files IPO papers with SEBI

United Bank of India has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India, say sources. The bank had received the government’s approval for an initial public offering on December 4, 2009. With the Government’s approval, United Bank is geared up to come out with its maiden public issue [...]

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