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Stocks news:For today 18thMay

Hero Honda can move upto Rs 1950: Kulkarni

18 May 2011, 02:49 PM

Hero Honda can move upto Rs 1950, says Shardul Kulkarni, Angel Broking. Kulkarni told CNBC-TV18, "Hero Honda is one of the few stocks, which is still in the higher top-higher bottom in spite of the market being in the lower top-lower bottom cycle. Traders can hold on to this particular stock.

The stop loss on the lower side should be placed at around Rs 1,750 and you can hold on to long positions. He further added, The weekly as well as the daily chart structure is quite positive. On the upside you may see a move up to Rs 1,925 or 1,950 but that is the place where you should be booking profits because in the RSI, which is a momentum indicator you are seeing divergence, so you may see a fall after those levels.

Buy Coal India on declines: Phani Sekhar

Buy Coal India on declines, says Phani Sekhar, Fund Manager, Angel Broking. Sekhar told CNBC-TV18, "I would be expecting muted returns from hereon because almost Rs 375, it is difficult to make a case for 20-25% kind of returns on Coal India. It remains a buy on decline kind of stock because most of the upsides have already been captured especially after the price hike that Coal India engineered almost 6 months back." He further added, "If at all I would feel that the downsides are not adequately captured. 

For example if you look at all the power utility companies, capital equipment, power capital equipment makers and even the power finance company all of them have been taking a beating because there is a wide expectation in the market that there is going to be a significant slow down. If that be the case then over the medium to longer term it is going to impact Coal India also. Although I do not believe that there is going to be a slowdown.