Stop loss: 170
Time duration: 1-3 weeks
WHY LIBERTY SHOES?
Net profit of the company grew 4.4 times year-on-year to at Rs 4.3 crore and revenue jumped 35.2 percent to Rs 142 crore during January-March quarter. For the year ended March 2014, the shoe maker's profit rose 2.4 times to Rs 13.21 crore on revenue of Rs 483.5 crore (up 34.2 percent Y-o-Y).
The stock has formed the inverted head & shoulder pattern and given a breakout with huge volume It has also broken its long term resistance of 162-163 level. From here ,it looks a strong buy for short term.
Stop loss: 342
Time duration: 2-3 Weeks
WHY INDIAN METALS & FERRO ALLOYS [IMFA]?
IMFA retained its ferro chrome output guidance of 235,000tn for FY15. The stock has appreciated 46% in the past one month, which we believe captures the deleveraging benefit envisaged over the next two years. Any substantial improvement from here on will depend on the progress made on Utkal C coal block. Our target price for IMFA at Rs342 is 18% above the current market price and, therefore, we have retained our Buy rating on it.
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