Stock Tips for June 7, 2011: Buy Yes Bank

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Stock Tips for June 7, 2011: Buy Yes Bank
It is difficult to predict the macro-economic environment, but understanding the movement of a stock is possible. With this view we bring to you the opinions of experts on which stocks to follow during today's, June 7, 2011, trading hour.

Shrikant Shetty, Head-equity advisory, Unicon Securities has recommended the following stocks on the website of Economic Times. He considers the following as the hot stocks to follow for the day.

Yes Bank: The recommendation on this stock is buy with a target price of Rs 314. Place the stop loss at Rs 290. Accoding to him, "Yes Bank has a bullish candle stick on the daily chart with good volume support. It has closed above the medium term 65-day moving average support at Rs 296 levels. Weekly RSI has shown positive crossover into oversold territory, which will tend to support reversal action if it occurs."

Tech Mahindra: Here too Shetty is bullish, he suggests a target price of Rs 745 and stop loss of Rs 690. On daily charts, the stock has closed above strong resistance at Rs 700, which is 200-DMA with hefty volume support on daily basis. The RSI and stochastic are indicating positive crossover, the momentum oscillators suggest possibility of an uptrend in short term.

Housing Development & Infrastructure: Shetty recommends a buy with a targert price of Rs 190 and a stop loss of Rs 160. HDIL has formed a higher-top-higher-bottom formation, which indicates positive sentiment in short-term trading, with support of decent volume. On daily charts, it is trading above a strong resistance zone at Rs 166 and closed above the 20 DMA, which indicates it may reach a target of Rs 190.

BGR Energy Systems: This stock too is buy with a target price at Rs 520 and stop loss at Rs 470. Shetty says, that on the daily chart, BGR Energy has closed with bullish candle stick with good volume support. The stock is trading around short-term resistance zone at Rs 490 levels, which indicates crossover above Rs 490, stock may reach potential target Rs 520 levels in short term trading.

Tata Motors: Here, Shetty recommends a sell with a target price of Rs 980 and stop loss at Rs 1055. On the weekly charts, Tata Motors has closed below the previous bottom at Rs 1035 levels with good volume support. On the weekly chart, it has closed with negative bias. Any genuine rise till resistance at Rs 1,035 on closing basis should be used as a selling opportunity.

Sharegyan recommends to buy Sun TV for intraday. The stock should be bought above Rs 305 with a target price of Rs 314 and a stop loss of Rs 302.

Meanwhile, Sharetipsinfo has suggested that investors should avoid early trade. There is no stock recommendation for today.

The website, Technicalanalysisofstocks, has recommended the stock of Raymond for short term purpose. The target price for this stock is Rs 412 and a stop loss is at Rs 355. This stock is news driven stock, Raymond to sell 125 acre Thane plot for Rs 2,250 crore.

Firstpost recommends to watch out the following nine stocks for the day: Petronet LNG, Mundra Port, 3i Infotech, Aurobindo Pharma, BHEL, Cairn, Bombay Dyeing, DCHL and HDIL.

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, yes bank, bse, nse, sensex, nifty
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