Wednesday, March 2, 2016

Stocks to watch in March 2016

Date: 2-Mar-2016
ABAN OFFSHORE: closed at 162 yesterday after making a low of 157.1
Shorts are being trapped as it broke 157 couple of days back to make a low of 156 and has bounced back. crossing 160 teritory successfuly now it may start targeting 164-167.4-169-172.4-174-177.4 and finally 179

TATA MOTORS: seems to be a good buy between 290-305 for target of 324-339. It is likely to face resistance when it comes near 324 to 339.

TECH MAHINDRA: cmp is 430. From the option data and the chart patterns it looks 410 region is forming a good support for this stock and if it is able to hold 410-430 region, it may try to target 470-490 soon. on the way it may give a pause near 450 to decide the trend. Option sellers are targeting 480 though which is a good 11% from current levels.