Kerbside
The recommendations provided in this column are taken from various market sources such as brokers, analysts, dealers and investment strategists, etc. These recommendations may not be backed by strong fundamentals. Therefore we advise readers to use their own discretion before investing in these recommendation
GOOD VOLUMES
TCS
BSE Code: 532540
CMP: Rs 2183.10
India’s largest company by market-cap, Tata Consultancy Services, has witnessed a good upmove over the recent past and volumes too have supported the upmove. Since, there is lot of uncertainty in the stock market; this stock could be a good defensive bet till things settle down. There is buzz on the D-street that some HNIs have taken long positions in the stock and are expecting it to move in the northward direction. Other IT stocks are also showing good traction with INR depreciating. Therefore, the stock can be looked at for short-term trading gain.
TECHNICAL BREAKOUT
Oil India
BSE Code: 533106
CMP: Rs 219.95
Oil India, a Navratna PSU, is a fully integrated exploration and production company in the upstream sector. As per the technical analyst, the stock had witnessed a breakout of triangle-like pattern along with robust volumes and the candlestick formation as on week ended September 21, 2018 is quite encouraging and indicates a robust upside movement in the stock price. The RSI on the daily chart is trading in the bullish territory, hence it makes a good bet for short term investment. Analyst have started speculating that Crude Oil may touch $100 per barrel soon. This has generated some interest in Oil exploration stocks.
SUPPORT LEVELS
Hindalco Industries
BSE Code: 500440
CMP: Rs 242.95
Hindalco, an Aditya Birla group flagship company, has been an interesting play, of late. The stock has shown good resilience in the current meltdown in the stock markets as it did not fall much and is holding its support levels. As per the technical analysts, the stock is a good candidate to go long in this turbulent period as the stock is trading above its important long term moving average, i.e. 200-day Simple Moving Average. A fairly decent buy at the current levels.
AND FINALLY..
Voltas
BSE Code: 500575
CMP: Rs 575.10
Tata Group firm Voltas in a joint venture with Turkish company Arcelik is foraying into home appliances business in India. This joint venture marks the comeback of Voltas into the home appliances segment after nearly two decades. The plans include launching more than 100 products across refrigerators, washing machines, microwaves and dishwashers over the next three months under the brand names Voltas Beko. As per the sources, the company is looking to corner about 10 per cent of the market share and generate a good amount of revenue from this venture. Investor with a risk appetite may enter.