Serendipity Stock Tips for Daytrading

Stock Tips for 07/03/08 - Daytrading


All traders are suggested to use stop losses while trading based on their risk taking capacity.

NIFTY charts have indicated a minor trend reversal so the next few days may favour the bulls.

Our stock picks for daytraders :-

ASIAN ELECTRONICS LTD.
NSE SCRIP CODE - ASIANELEC
Recommendation - BUY
Current Market Price - 222.50
Day Target - 230. If stays above 230 will try to cross 235 and touch 240.
Outlook - The stock has formed a very good bullish pattern on the charts.
Fundamental - The stock trades at a PE of just 7.03 and the current market value is less than its book value of 245! It is certainly a value buy and looks poised to deliver some good returns in the short term.

HINDALCO INDUSTRIES LTD.
NSE SCRIP CODE - HINDALCO
Recommendation - BUY
Current Market Price - 207.85
Day Target - 215. If stays above 215, it may try to set a new 52 week high.
Outlook - It is clear that Hindalco is on its way to set a new 52 week high. If not today, within the next 3 days.
Fundamental - Globally metal prices are on the rise and Hindalco is a major exporter. Hindalco is currently undervalued at a PE of just 10.18. This is a good stock to buy for short term gains.

Most midcap stocks are still not showing any sign of strength and trading in them may be very risky today.

NOTE --- Trading targets are indicative and there is a margin of error. Traders are suggested to set their own targets based on the prevalent momentum in the market.

Disclaimer - Stock market recommendations are based on fundamental and technical analysis of stocks and no profit can be guaranteed. Investors are advised to make their own investment decisions with the information provided. Any investments, trades, and/or speculations made based on the ideas, opinions, and/or forecasts, expressed or implied herein, are committed at your own risk.

How will Omaxe, and Suzlon fair tomorrow

Hi Serendipity ,
I traded (intraday) in ASIAN ELECTRONICS LTD. on Wednesday..Somehow I was not profitable in it , but yes on wednesday it was having good movement.I may be trying today
GUJRECOKE ..what do u say ?
Raju

Omaxe - Has not given any clear signals and 220 appears to be a reference point. I'll advise you to watch the opening, then take a call.

Suzlon - Can hit 230 again today.

GUJ NRE Coke - Looks good. May open below yesterday's close price and then move up.

Again, it is a day when we must wait for market to open before making up our mind to trade. So see how it opens and then take positions.
Try to stay away from mid cap stocks. Better to trade NIFTY stocks today for small investors.

Day Traders can start buying now. ASIANELEC is 207.80 and HINDALCO is 198.50. Buy both these stocks. They will close much higher.

Short Suzlon @ CMP 334 Target 324

SEBI has announced it is investigating Reliance group shares. This does not look good.

what about your open position on asianele & hindalco?

We cant help such news today, but we will make up on Monday. Close your open position by the end of the day. Dont take home any position. We will recover this 2-3% loss on Monday. No problems.

good confidence. bought global tele in panic @239.xx, placed a stop below 237, any view on this stock.