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Quotes with Resistance & Support

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Buy Tata Tea, target of Rs 859: KRChoksey

Posted on: June 23rd 2009 in Brokerage Recommendations.

KRChoksey has maintained its buy rating on Tata Tea, with price target of Rs 859, in its report dated June 19, 2009. “More than 70% revenues and 80% of EBIT come from tea business, which is likely to face margin pressure in FY10 as tea prices are likely to remain firm on account of…

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Accumulate Wipro on dips; target Rs 500: Bonanza

Posted on: June 17th 2009 in Brokerage Recommendations.

Bonanza has recommended to accumulate Wipro on dips near Rs 395 with a medium term target of Rs 500 in its report dated June 16, 2009. “Wipro is the second largest IT service vendor in the Indian Market behind IBM. We expect the company to leverage its strong presence in India and …

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Reduce M&M, target of Rs 689: Reliance Money

Posted on: June 16th 2009 in Brokerage Recommendations.

Reliance Money has recommended a reduce rating on Mahindra & Mahindra, with price target of Rs 689, in its report dated June 16, 2009. “M&M plans to launch 2 new products in auto segment. Newly launched Xylo has already received good response and new SUV launch is also as…

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SpiceJet an underperformer: Karvy

Posted on: June 16th 2009 in Brokerage Recommendations.

Karvy Stock Broking has changed its rating on SpiceJet from outperformer to underperformer with a price target of Rs 16 in its report dated June 16, 2009 “During 4QFY09, SpiceJet is expected to report revenues of Rs 3,363 million as against revenues of Rs 3,993 million reported during …

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Accumulate Reliance Industries: Prabhudas Lilladher

Posted on: June 16th 2009 in Brokerage Recommendations.

Prabhudas Lilladher has maintained its accumulate rating on Reliance Industries in its June 15, 2009 research report. “The Bombay High court has finally ruled the gas pricing decision in favour of Reliance Natural Resources (RNRL) which entitles the company to procure gas from Reli…

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Buy Tata Tea, target of Rs 853: Sharekhan

Posted on: June 13th 2009 in Brokerage Recommendations.

Sharekhan has recommended a buy rating on Tata Tea with a target price of Rs 853 in its June 10, 2009 research report. “Tata Tea’s Q4FY2009 numbers (derived from FY2009 and M9FY2009 numbers) are below our expectations. The top line grew by 9.4% year on year (yoy) to Rs 1,226.1 c…

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Sell NALCO, target of Rs 287: Reliance Money

Posted on: June 13th 2009 in Brokerage Recommendations.

Reliance Money recommended a sell rating on National Aluminium Company (NALCO) with a target price of Rs 287 in its June 12, 2009 research report. “National Aluminium Co. Ltd. (Nalco) has delivered its worst ever performance in last 16 quarters – courtesy low LME Aluminium pr…

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Buy Bharat Forge with stoploss of Rs 175: Arihant

Posted on: June 11th 2009 in Brokerage Recommendations.

MUMBAI: Arihant Capital Market has advised traders to buy Bharat Forge with stoploss of Rs 175. “On the daily charts, Bharat Forge is in buy on RSI and its 14-days RSI is currently at 65 (above 50 is consider to be in strong hands). BFL is looking weak on daily chart and has formed a…

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Buy Ranbaxy with stoploss of Rs 280: Arihant

Posted on: June 11th 2009 in Brokerage Recommendations.

MUMBAI: Arihant Capital Market has advised traders to buy Ranbaxy with stoploss of Rs 280. “On the daily charts, Ranbaxy is in buy on RSI and its 14 days RSI is currently at 66 (above 50 is consider to be in strong hands). Ranbaxy is looking strong on daily chart and has formed Trend …

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Buy Everest Kanto Cylinder, target of Rs 250: IIFL

Posted on: June 9th 2009 in Brokerage Recommendations.

IIFL has upgraded its rating on Everest Kanto Cylinder to buy with a target price of Rs 250 in its June 09, 2009 research report. “Our recent meeting with EKC’s management has reinforced our positive long-term view on the stock, notwithstanding near-term challenges in both domes…

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