Stock tips for June 1, 2011. Buy HCL Tech

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Stock tips for June 1, 2011. Buy HCL Tech
The benchmark indices are likely to open on a positive note considering the favourable Global cues on June 1.

Today we have included new sources to our list with the hope of bringing more opportunities for you.

Sharegyan has recommended the stock BPCL to buy for intraday, with a target price of Rs 642 and a stop loss of Rs 642.

Meanwhile ShareTipsInfo has recommended HCLTECH for future intraday with a target price of Rs 517 and stop loss of Rs 513.

The experts at NiftyFutureKing have an interesting recommendation on Axis Bank.

They have put a buy on the stock (Axis Bank) at price of Rs 1,295.35 with a stop loss of Rs 1,283.70 and their first target price is Rs 1,309.60; meanwhile their second target price is Rs 1,329.25.

At the same time they have a second recommendation on Axis bank where they have put a sell on the stock if it reaches Rs 1,269.70 with a stop loss at Rs 1,281.10 and their first target price is Rs 1,255.75 followed by a second target price of Rs 1,236.90. 

Amit Harchekar, CMT IIFL Private Client Group, IIFL has recommended the following stocks on the website of Economic Times. Harchekar considers the following 5 stocks as hot stocks to follow for the day.

Reliance Industries: Harchekar recommends a buy on this stock with a target price of Rs 1,000 and a stop loss of Rs 935. He opines that short-term trend reversal after breakout above Rs 925 has reinforced bullish trend in the counter with immediate resistance seen at Rs 1,000. This up move has been supported with good buying volume activity, along with positive crossover in RSI.

ITC: Here also the recommendation on the stock is buy with a target price of Rs 203 and a stop loss of Rs 189.50. According to Harchekar, on the daily chart, ITC has signalled a 'symmetrical triangle' breakout above Rs 190, thus putting an end to its consolidation phase and is likely to be followed with sharp up move towards Rs 205. The recent out-performance by ITC against broader markets could accentuate further aboveRs 190, accompanied by fresh buy signal from MACD.

GCPL: The recommendation for this stock is buy with a target price of Rs 438 and a stop loss of Rs 400. The breakout from 'inverted head & shoulder top' on Monday has ignited bullish momentum in the counter. With dual buy confirmation from RSI as well as MACD, the risk reward ratio remains tilted with positive bias. In the near-term, the stock could attempt to touch its all time high.

GAIL: For this PSU, Harchekar recommends a sell with a target price of Rs 423 and a stop loss of Rs 453. The recent pullback in the counter after testing troughs of Rs 412 has stalled near its 78.6% retracement levels which are placed at Rs 450. A formation of 'shooting star pattern' appearing at resistance levels near the falling resistance line embarks negativity.

Bank of India: For the government owned bank also the recommendation by Harchekar is to sell with a target price of Rs 430 and a stop loss of Rs 457. he considders that the prices are retreating after testing resistance of 200 DMA on Tuesday has led to formation of 'shooting star', indicating a short-term trend reversal along with uptick in volumes. Most of the oscillators are indicating an overbought position.

Firstpost have picked Cipla, Kotak Bank, Nalco, Havells, Reliance Power, Petronet, Educomp, PFC and Yes Bank as the 9 stocks that should be closely followed throughout the day.

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: bse, stock tips, nse, nifty, sensex
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