I am going long on Shree Renuka Sugars for a target of Rs 24.50 with stop loss of Rs 22. We feel sugar as a cycle has bottomed out and this could be one sector, which will flourish in this year. Thus remain long on this stock for at least 40-50 percent return from current levels from next six-eight months perspective.
Though we are not fundamentally bullish or bearish on IVRCL but technically this stock seems to show the first leg of a sharp bounce back, which can take the stock close to Rs 23 odd mark. However, for intraday go long on this stock for a target of Rs 20.5 and maintain a stop loss of Rs 18.7 on closing basis. The same stop loss should be kept even on closing basis for a target of Rs 22-23.
I am going long on Sintex Industries for a target of Rs 47 on intraday basis. Sintex has been battered for no reason and the stock has corrected sharply. We feel the levels of Rs 42-44 zone could be a good level from building portfolio on this stock. Thus allocate a small part on this stock. However, for intraday basis maintain a stop loss of around Rs 42.8 for a target of Rs 47 eventually.
Go long on PTC India for a target of Rs 59 with stop loss of Rs 54.20. We feel there will be lot of volatility but the ones which have corrected sharply will bet into today's and tomorrow's trade and eventually the trend is down and again could correct after testing their near resistance level but a sharp bounce back is expected on all the midcap stocks.
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