Stock tips for May 30, 2011. Buy HCC

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Stock tips for May 30, 2011. Buy HCC
On the first trading day of the week, May 30, we bring to you the tips from different sources that you can consider for the day. 

Today's pick by Shardul Kulkarni, Senior Technical Analyst, Angel Broking has been featured in Economic Times. Kulkarni's recommendations are.

HCC: Kinra recommends to buy the stock with a target price of Rs 34.30 and a stop loss of Rs 29.50. He points out that HCC has formed a bullish engulfing Japanese candlestick pattern at 161.8% Fibonacci retracement level. There is a positive divergence in RSI on weekly charts. Buy this stock on a decline up to Rs 30.40 in the coming 1-2 weeks.

Aban Offshore: The recommendation on this stock is to buy with a target price of Rs 592 and place a stop loss of Rs 554. On the hourly charts, the stock is forming a bullish flag pattern, which will be confirmed above Rs 565. Momentum oscillators on daily charts suggest upside move. Kulkarni's advise to buying the stock only above Rs 565 in the coming 1-2 weeks.

LIC Housing Finance: This housing finance company has been recommended with a target price of Rs 236, with a stop loss of Rs 214.50. On daily charts, the stock has given a breakout from the inverse head and shoulder price pattern with a rise in volumes. We advise buying the stock on declines up to Rs219 in the coming 1-2 weeks.

Dena Bank: The buy price on this stocks is Rs 89.56 with a target of Rs 96 and a stop loss at 87.50. On weekly charts, the stock has formed a dragon fly doji Japanese candle stick pattern, which indicates possibility of a positive movement. Momentum oscillators on daily charts are positively poised. Buy only above Rs 90 in the coming 1 - 2 Weeks.

IRB Infrastructure: The recommendation is of the target price of Rs 164 with a stop loss of Rs 149. The stock is taking support near its historical support level of Rs 145. Momentum oscillators on daily charts suggest an upmove is likely. We advise buying the stock only above Rs153.30 for a target of Rs 164 in the coming 1-2 weeks.

Firstpost have picked Bharat Forge, Cipla, Aurobindo Pharma, M&M, Ranbaxy, PFC, JP Power, Canara Bank and Bank of India as the 9 stocks to keep an eye on for the day.

If you are looking for stocks in the Positional Future, then sharetips has recommended Dish TV above Rs 77 with a target price of Rs 79 and stop loss at Rs 75.80.

OneIndia Money DISCLAIMER: OneIndia Money provides you with information covering shares, futures and options based on broker's reports as stated on various media. Investors are, however, warned that they should NOT take any buy or sell decision based on these views expressed in the article. Investors should consult their own financial and share advisors before taking purchase or sale decisions. OneIndia Money does not take any responsibility for any losses incurred by investors who take their cues from the above article.

Read more about: stock tips, bse, nse, sensex, nifty
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