Stock Tips for June 3, 2011: Buy Idea Cellular

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Stock Tips for June 3, 2011: Buy Idea Cellular
With Wall street being volatile, the comment on the direction of the Indian equity market for the whole day of June 3, 2011, will not be easy either. But not worrying on the broader market and focusing on stocks may still yield opportunities to profit. And hence we bring to you today's stock tips.

On this last trading day of the week, Imran Vohra, VP-institutional tech research, GEPL CAPITAL recommends the following stocks in Economic Times. He considers the following as hot stocks for the day.

Nagarjuna Fertilisers & Chemicals: The recommendation is buy with a target price of Rs 36 and stop loss of Rs 30. Nagarjuna Fertilizer is forming an inverse head & shoulder pattern on its weekly charts, which is a strong indication of trend reversal. It has given a close above its 200-DMA indicating strong grip of bulls in this counter. Buy on decline around Rs 31.

Shipping Corporation of India: Here the recommendation is buy, the target is Rs 118 and stop loss at Rs 100. After a long consolidation of almost four months, Shipping Corporation of India (SCI) is showing signs of bottoming out process. It has given a close above its short-term moving average and also showing strong positive divergences on weekly charts indicating a trend reversal after a long period. Buy around 104-105.

South Indian Bank: Vohra recommends a buy with a target price of Rs 28 and a stop loss of Rs 23. The stock has given a range trading breakout after moving in a narrow range of 22-24 for almost three months. The stock has given a close above its 200-DMA with very strong volume suggesting a clear uptrend in coming days.

UltraTech Cement: This cement company also has a recommendation of buy with a target price of Rs 1,135 and a stop loss of Rs 1,002. The stock is showing sings of trend reversal after forming a double bottom pattern of daily charts. Prices have given close above its major moving averages, that too with above average volumes - indicating a strong up move in coming days. Buy around 1,040.

Idea Cellular: The telecom operator owned by the Birla Family also has a recommendation on buy with a target of Rs 78 and stop loss of Rs 62. The stock has given a strong signal of up move after clearing its all major moving averages with above average volume, which indicates further advance in this counter. The weekly charts are also suggesting a strong up move in coming days. Buy on minor declines of around 68-69.

Meanwhile Sharetips has not recommended any stock rather it has stated that we should all just wait and watch, perhaps it believes that market volatility is uncertain in its direction.

The recommendation from, for today is Reliance Capital, they have suggested a buy on the stock with a stop loss of Rs 502 and a target price of Rs 540. The stock will be news driven.

Niftyfuturekings has taken recommended both sell and buy positions on BHEL.

On the buy side it has suggested to buy BHEL at the price above Rs 1,925.25 with a stop loss of Rs 1,934.7 with the first target price of Rs 1,973.7 and the second target price at Rs 2003.35.

And on the sell side, it has stated that to sell BHEL below Rs 1913.6 with a stop loss of Rs 1930.8 and the first target price of Rs 1892.55 and a second target price of Rs 1864.15. have picked nine stocks that should be followed for the day Aban Offshore, PFC, Aurobindo Pharma, Kotak Bank, Educomp, Sun Pharma, Bajaj Auto, DCHL and IOC.

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, idea cellular, bse, nse, nifty, sensex
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