PNB, BHEL among 10 buy and sell calls for Fridays trade
PNB, BHEL among 10 buy and sell calls for Fridays trade
The domestic market is expected to open higher after Asian shares extended their recovery from two-month lows into a fifth day as the Wall Street market volatility gauge fell, while the US dollar was undermined by various worries including rising inflation.
At 8:30 am, SGX Nifty was trading at 10,588.50, up 31.50 points or 0.30 per cent.
Below are the key trading ideas for Friday's trade:
1) PNB (Buy)
Target: Rs 140
Stoploss: Rs 125
CMP: Rs 128
- ED confiscated funds worth Rs 5100 crore
- The stock jumped post recapitalisation from Rs 128.80 level itself
- Pullback expected on technical charts.
- Short-covering possible ahead of expiry
- JP Morgan has a neutral rating with a target of Rs 195
2) RAMCO SYSTEMS (Buy)
Target: Rs 480
Stoploss: Rs 467
CMP: Rs 470
- Mid and smallcap IT firms are on an uptrend
- The stock remained stable amid broader market volatility
3) BHEL (Buy)
Target: Rs 98
Stoploss: Rs 93
CMP: Rs 94.70
- The company received orders worth Rs 560 for emission Control
4) IRB Infra (Buy)
Target: Rs 232
Stoploss: Rs 225
CMP: Rs 227.35
- Financial closure of NHAI road project
- Financial closure completed for Kishangarh-Gulabpura toll
- The project is worth Rs 1020
5) INDOCO REMEDIES (Buy)
Target: Rs 270
Stoploss: Rs 258
CMP: Rs 270
- Received GMP certificate for Goa unit from European regulator
6) WOCKHARDT (Sell)
Target: Rs 780
Stoploss: Rs 800
CMP: Rs 794.70
- Sell-off going on post Q3 earnings
- Buy calls receding in futures trade
7) MOTHERSON SUMI SYSTEMS (Sell)
Target: Rs 325
Stoploss: Rs 347
CMP: Rs 343.25
- The stock settled at day's low in previous session
- Buy calls receding in futures trade
8) GRANUELS (Sell)
- Sell-off going on for last two days
- Sell-off on the back of heavy volumes
9) Prakash Industries (Buy)
Target: 226
Stoploss: Rs 217
- The company will issue convertible warrents worth Rs 1 crore to promoters
- The company plans to raise Rs 208 crore
10) ZEE ENTERTAINMENT (Buy)
Target: Rs 600
Stoploss: Rs 560
CMP: Rs 571
- Morgan Stanley overweight on the stock with a target price of Rs 610
- Motilal Oswal also has a Buy rating with a target price of Rs 705
(Stocks mentioned here are for informational purpose. Consult your financial advisor before investing.)
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