Mangalore Chemical ruling at 70 is unlikely to move beyond 73-74, even if hostile bid catches on. If it does not happen, it can correct below 60. Hence exit is advised above 72 and avoid fresh buying. Opto Circuit ruling at 22.80 can correct to 21 shortly, due to weakness seen. Short with SL of 23.25. IGL ruling at 289.20 can move to 305 in the near term, ahead of Supreme Court hearing in PNGRB matter. Buy with SL of 285. Maruti ruling at 1,448 can be bought below 1,430 for a target of 1,530 shortly. Buy as a positional trader without SL. Texmaco Rail ruling at 37.60 can move to 40 shortly, on informed buying seen, as the company is acquiring close to 25% stake in Kalindee Rail at rs.65 per share, which will be seen positive by the market. This will not trigger open offer in Kalindee and share ruling at 74 may correct to 65 in the near term.So, avoid taking positive call on Kalindee. Buy with SL of 37. Spicejet ruling below 28 can move to 35 shortly, as Kuwait Airways, seen to be interested in picking up stake in the company at hefty valuation at around Rs.60 per share. Buy as an investor.
Posted on: Mon, 15 Jul 2013 04:57:24 +0000
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