Stock views on Tata Chemical, Sesa Goa, Parekh Aluminex

IndiaInfoline on Tata Chemical - Target Rs 335

IndiaInfoline is bullish on Tata Chemical and has recommended buy rating on the stock with a target of Rs 335

"Tata Chemical has done pretty much nothing in last three weeks, besides moving in a trading band between Rs 295-270. This week, after a long time, the stock made a move above the upper end of the trading range. The rangebound trading appears to be broken and the stock is all ready to surge higher. Our view is further validated after the stock gave a close above the cluster of moving averages placed around Rs 299-300 levels. If the stock holds up above the levels of Rs 325-326 today, it can post huge upside in the coming trading sessions. We recommend high risk traders to buy the stock in the range of Rs 311-318 for target of Rs 335. Maintain a strict stop loss of Rs 303,” says IndiaInfoline research report.

IndiaInfoline on Sesa Goa - Target Rs 400

IndiaInfoline is bullish on Sesa Goa and has recommended buy rating on the stock with a target of Rs 400

“Sesa Goa has been consolidating in a range between the levels of Rs380-360 from last two weeks. On Thursday, the stock attempted to break-out from the upper-end of this trading range. Moreover, on the daily chart, the stock has formed a Bullish Candlestick suggesting upside from the current levels. The daily RSI is already in strong buy mode. The stock has closed above all its key daily moving averages. A move past the levels of Rs385 could take the stock towards the levels of Rs400 in the short-term. Keeping in mind the above-mentioned evidences, we recommend high risk traders to buy the stock between the range of Rs376-385 with a stop loss of Rs 370 for a target of Rs 400,” says IndiaInfoline research report.

Sunidhi Sec on Parekh Aluminex - Target Rs 145

Sunidhi Securities & Finance has recommended a buy rating on Parekh Aluminex, with a price target of Rs 145, in its report

"Parekh Aluminex is likely to post an EPS of Rs 34 in FY10, which would further go up to Rs 44 in FY11. At CMP, the share is trading at a P/E of 3.2x on FY10E and 2.5x on FY11E. The stock is forming a sideways consolidation triangle price pattern. The consolidation pattern is forming after a long run-up. The upside breakout from the price pattern is at Rs 120. The target for the stock after the breakout is Rs 160. However, we recommend BUY with a target price of Rs 145 in the medium term," says Sunidhi Securities & Finance report.