Wednesday, May 10, 2017

Winning Strokes: Think Different
Today was the day for telecom stocks as most of them surging more than 2% intraday. At one time my recommended Bharti Airtel was up more than 9%, as the stock closed the at Rs.372.75 up more than 7%. The RCom closed at Rs.33.10, up 1.85% (Intra day high of Rs.33.85). Now, as RJio continues its paid packages and government takes initiative to revive the sector, the investors can look at this sector once again for some decent future gains.

Dena Bank Ltd which was recommended at around Rs.37, last months today made a new 52-week high of Rs.50 in the BSE. Another of my recommended counter in the PSU banking space UCO Bank Ltd closed at Rs.41.75 in the BSE after making an intra day high of Rs.43-plus. The investors are suggested to book profits in both the counters.

Shilpi Cable Technologies Ltd (Rs.74.65) continues to hit the lower circuits, after it broke a major support at Rs.117. I am expecting the share to go below Rs.70. Therefore, keep away from this stock, at the present moment.

Buy the shares of Simplex Projects Ltd (Rs.34.65) at around Rs.34.34.50, for targets of Rs.51-52. The stocknis on an uptrend and its sister company is doing Metro Rail project bin Bombay.

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