Sunday, August 5, 2012

BAJAJ FINSERV, JET AIRWAYS, DISHMAN PHARMA; SHORT TERM TRADES










DISHMAN PHARMA:
  1. BUY at CMP 79
  2. Keep a generous stop loss at 66 closing basis.
  3. Look for a target of 92 within 3 months. This corresponds with the 23.6% Fibonacci retracement level on the last major downswing (18/1/2010 to 19/12/2011) on the 5 yr Charts.
  4. My 12 month target, for whatever it is worth, on the scrip is 125.
  5. Readers may note that in the recent past, I have advocated a best buy level of around 55 for long term investors but the super strength being displayed by the counter, cannot be ignored. Hence if you are a long term investor and postponed buying at 66 levels, waiting for a retest of 55, my apologies for the missed opportunity. Anyway, all is not lost since long term guys could still buy on dips, however small,  and play for a 1-yr target of 125.
  6. The caveat is that I am assuming there is no fishy operator driven angle in the strength displayed by the stock in the last 3 months (up 75%).
JET AIRWAYS:
  1. BUY at cmp 374.
  2. Keep a stop loss at 337 closing basis.
  3. Target 409 in about 4 weeks or so.
BAJAJ FINSERV:
  1. BUY at cmp 745
  2. Keep a stop loss at 693 closing basis
  3. 3 month target 810.
  4. For those with a little more patience, my one year target on the stock is 895.

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