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Stock For Monday

State Bank of India
After taking support at 2,655 levels, stock bounce back and broke the resistance of 200DEMA with good volumes. Beside this on the daily chart stock had formed an ``Inside Bar`` pattern and even oscillator had gave a positive crossover, indicating an upside trend in the coming days. Buying is recommended at CMP of Rs. 2,732 with target of Rs 2,915 and stop loss of Rs 2,622.

Mahindra & Mahindra
Stock had corrected 61.80% retracement of the recent rally from 742.45 to 814 and took support at the 55DEMA. Thereafter it bounce back sharply and made a ``Piercing`` pattern on the daily chart as well as broke the resistance of 21DEMA with good volumes. Oscillator also gave a positive crossover which further indicates strength in the stock.  Buying is recommended at CMP of Rs. 780 with target of Rs. 840 and stop loss of Rs. 749.

With the government deciding in favour of the cigarette manufacturers, the concerns regarding the cash cow business of ITC are over. Also, the company`s other businesses such as that of hotels, agri-products and non cigarette fast moving consumer goods are expected to maintain their strong growth momentum in the coming quarters. Hence, they believe this a good time to enter the ITC stock, Target for  it 189-192.

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