SHREE RENUKA (BUY) 104.5 - 105. 5 (Target1) 107 (Target2) 109 (Sl) 99
UNITECH (SELL) 45.3 - 44.8 (Target1) 43 (Target2) 41.6 (Sl) 46.5
Volats also looks good SL 48 and Target Rs 70.
Indian Overseas Bank (Rs 52.05) Buy : We recommend a buy in Indian Overseas Bank from a short-term trading perspective. It is clearly visible from the charts of Indian Overseas Bank that after encountering significant resistance in the band of Rs 80-85 in early January 2009, it began to decline.
The stock conclusively penetrated a support at Rs 60 in late January and was on a medium-term downtrend till early March low of Rs 37. This low is also a 52-week low. It reversed from this level and has been on a medium-tem uptrend since then.
We anticipate it to move up until it hits our price target of Rs 58. Traders with short-term perspective can buy the stock while maintaining a stop-loss at Rs 49.
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