SREI infra, TTK Prestige, BHEL, Bajaj Hindusthan, Assam company, Taj GVK Hotels:: Business Line

Query Corner: Adani Enterprises, Great Offshore, OnMobile, SREI infra, Sterlite Technologies, Ion Exchange, Jayshree Tea ::Business Line

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Please let me know the technical prospects of Adani Enterprises bought at Rs 374.

A. Pradeep Kumar

Adani Enterprises (Rs 288.3): Adani Enterprises went into tailspin between July 2011 and January 2012. The stock dropped from Rs 765 to Rs 261 in this period. The recovery in January from this trough could not get past the first medium-term resistance at Rs 456 and the stock is pinning out of control again.

Immediate support is at the recent trough at Rs 261. This also coincides with the trough formed in March 2008. If this low is breached, next halt can be at Rs 220. Further fall will drag it to the March 2009 trough at Rs 120.

Investors should, therefore, hold the stock only as long as it trades above Rs 261. Resistances for the months ahead would be at Rs 456, Rs 515 or Rs 574. Long-term view will turn positive only on a move above Rs 574. Investors with a smaller investment horizon should, therefore, divest their holdings if the stock struggles to get past these resistances.

SREI Infrastructure Finance Ltd - Long Term Infra Bonds

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Hanung Toys, Bank of Baroda, SREI infra: Edelweiss Diwali Muharat Technical Picks

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Hanung Toys & Textiles Ltd (HANTOY)
Technical – BUY



Stock had bounced back multiple times from its 20 DEMA indicating immediate support for the stock in
medium term. Further, rising trend line support for the stock is placed at ` 353. Oscillators on daily and
weekly charts trading in neutral mode but with positive bias.
Buying is recommended at CMP of ` 362 with target of ` 400 and stop loss of ` 339 (closing basis)



Bank of Baroda (BANBAR)
Technical – BUY



Stock had generated “flag pattern” breakout on its daily chart along with good volumes. Oscillator on daily
and weekly charts continued its uptrend indicating positive momentum to continue in the counter.
Oscillator on daily and weekly chart continued its uptrend.
Buying is recommended at CMP of ` 1014 with target of ` 1100 and stop loss of ` 967 (closing basis)


SREI Infrastructure Finance Ltd (SREINF)
Technical – BUY



Stock had been in continues uptrend since March 2010 which is depicted by “Higher top and Higher
bottom” on its monthly daily chart. It had broken out its key resistance of 126.50 along with huge volume.
Oscillator on weekly and daily chart continued its uptrend indicating upside momentum to continue in the
counter.
Buying is recommended at CMP of ` 132 with target of ` 160 and stop loss of ` 122.