Sharekhan's view on RIL, TCS

Nifty may see a breakout this week on upside

NIFTY
CLOSE-5908.35 (28.12.12)

Market ended weekly is positive territory after consecutive negative close of last two weeks. It remained range bound during whole week as expected. It is still Time wise consolidating in range of 5800 (support zone) – 5950 (Resistance Zone) levels. Able be to give break out from these range will lead to further Trend with momentum in the market. Short term remains UP till nifty trades above 5780 levels & expecting target of 6200 levels in short term. One can expect Possibility of break out from this range in this week. One should be stock specific at current levels of market till Clear trend established with momentum for further higher levels targets.

RIL: BUY
Close-844
Tgt-888
RIL closed above 20 DMA & its weekly KST is also in BUY. It looks like further possible extension on up side from current levels. One can BUY at cmp with SL-822 for the target of 888 in short term.

TCS: BUY
Close-1263
Tgt-1293
TCS closed above 20 DMA. Its daily KST is in BUY. It also closed above 40 WEMA. One can buy at cmp with SL-1248 for the target of 1293 in short term.

GVK Power & Infra: BUY
Close-13.60
Tgt-15
GVK Power & Infra is forming bullish bottom triangle kind of pattern. It closed above 20 WESM. It’s weekly KST also in BUY. One can BUY at cmp with SL-12.90 for the target of 15 in short term.

BOI: BUY
Close-338.50
Tgt-352
BOI is out performing Index in short term. It’s showing sign of extension for higher levels targets. Risk reward is favorable to BUY at current levels of market. One can BUY at cmp with SL-331 for the target of 352 in short term.


Written By,
Devang Shah (Portfolio Manager- PRO TECH-PMS) At Sharekhan LTD.

Disclaimer:
The analyst may have a position in the scrip mentioned above; the views given above are the personal views of the analyst"