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Stocks worth a second look

January 4, 2009

Off late, certain stocks are increasingly appearing interesting as well as worth taking the minimum risk entailed with trading them. Quite in plain words, my risk reward ratio has tripped in favour of trading them.

BALRAMPUR CHINI[BALRAMCHIN] : A pure trend play. These are my words to describe the present scenario which is developing right now. It is a buy on dips.There will be an extremely short term correction in this ticker and should come back to 45-47 levels. It will technically give off my signal to enter LONG in this ticker.

Buying range: 45-47
Stop Loss: 41.45
Risk[Rs]: 3.55 per share

ALLAHABAD BANK [ALBK] :  This stock has broken out of a long consolidation period. This will be again in my dictionary a buy signal.

Buying Range:  Now is a good time, or if I am feeling greedy I would wait for a possible retracement to circa 52 levels.
Stop Loss:48
Risk[Rs]:Rs 2-4 per share[depending on your entry point]

Disclaimer: This is not a trade recommendation. Consult your advisor before taking investment decisions

Disclosure: The author does not hold any financial  interest in the mentioned companies. I do not hold any positions in these stock, but stalking actively.

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