IDFC is a good candidate for short covering. It had witnessed significant short additions in the last couple of series. Recently, when it underperformed the broader market, the short build-up increased. The stock open interest has gained more than 34 percent from the highest OI seen in the April series. However, the stock had major support at Rs 147, which it did not breach in May despite repeated jitters. We believe this set the stage for good short covering in the stock when the Nifty surpassed its major resistance of January highs
Thursday 16 May 2013
Buy IDFC around Rs 161; target Rs 180: ICICIdirect.com
IDFC is a good candidate for short covering. It had witnessed significant short additions in the last couple of series. Recently, when it underperformed the broader market, the short build-up increased. The stock open interest has gained more than 34 percent from the highest OI seen in the April series. However, the stock had major support at Rs 147, which it did not breach in May despite repeated jitters. We believe this set the stage for good short covering in the stock when the Nifty surpassed its major resistance of January highs
Wednesday 3 April 2013
Buy Coal India; target Rs 374: Nirmal Bang
Nirmal Bang is bullish on Coal India (CIL) and has recommended buy rating on the stock with a target price of Rs 374, in its April 03, 2013 research report.
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