FairWealth Securities

Buy ABB Ltd At Rs 463, Target 540: Hunny Tarika, Fairwealth Securities

Buy ABB Ltd At Rs 463, Target 540: Hunny Tarika, Fairwealth SecuritiesTechnical analyst Hunny Tarika, Fairwealth Securities has maintained ‘Buy’ rating on ABB Ltd stock to achieve a target of Rs 540.

According to Tarika, interested investors can buy the stock around Rs 463 with a stop loss of Rs 429.

Nifty Has Support At 3400: Hunny Tarika, Fairwealth Securities

Nifty Has Support At 3400: Hunny Tarika, Fairwealth SecuritiesTechnical analyst Hunny Tarika of Fairwealth Securities said that Nifty witnessed good consolidation between 3300-3400 before moving upward to mark its closure above the 200 DMA of 3400.

Tarika said that stock traders are advised to be careful as there were low upside volumes on Thursday & Friday trading sessions.

He added that Nifty is shaping a pessimistic divergence in an overbought region. Those holding long positions should keep tracking their stop losses and any new position should be taken only with strict stop loss.

Buy Alok Industries To Achieve A Target Of Rs 28: Sovid Gupta, Fairwealth Securities

Alok IndustriesEquity analyst Sovid Gupta of Fairwealth Securities is bullish on Alok Industries and maintained 'Buy' rating on the stock to achieve a target of Rs 28.

Alok Industries is a leading vertically integrated textile player having sales of over 3000 crore and tough bottom line.

The analyst initiate a buy call on the company on basis of its good valuation, vast growth in topline by the next three years and augmented outcome from higher foreign currency earnings, increased sale of Value added products and Vertical/ backward Integration.

Accumulate Sintex Industries at current price, Target 240: Sovid Gupta, FairWealth Securities

Sintex

Sintex Industries, with strong balance sheet and huge cash balance is well Equipped to manage current challenging business Equipment. We estimates Sintex Industries to post net sales of 3300 crores and 4200 crores for FY09 and FY10 respectively, posting compounded growth rate of 40% for 4 years.

Expect range-bound Nifty, Volatility at higher levels: Hunny Tarika, FairWealth Securities

FairWealth SecuritiesNifty showed increased volatility around 3430 -3450 which happens to be the 200 DMA of the market and closed below this at 3384. Increasing volatility at this level is obvious as Nifty has rallied almost 1000 points from 2540 to 3510.

A consolidation can be seen around levels of 3150-3400 before market makes new highs.