Kunal Bothra, Sr Technical Analyst - Manager, Advisory, LKP suggests the following stocks on Economic Times.
Punj Llyod: For this stock the suggestion is buy with a target price of Rs 75 and a stop loss at Rs 60. After a very strong closing on the last trading day of last month, the stock has been under consolidation. However, it has retraced 50% of the move from 52.65 to 68.70. The stock has gained further momentum taking support at its short-term averages (20 & 55 DEMA).
Subex: Bothra's recommendation on this stock is a target price of Rs 72. And a stop loss at Rs 62. The daily price pattern is showing a probable inverse shoulder-headshoulder pattern formation, with the neckline at 67-68. The stock is trading above its 200 DEMA, which is a strong long-term support. Momentum indicators showing strength, especially MACD(12,26), augurs well.
Power Fin Corp: The stock has a buy recommendation with a target price of Rs 224 and a stop loss of Rs 190. He Reasons that the daily price pattern shows strong volume accumulation from the support of Rs190 levels. With volumes picking up at the rises, it will gain momentum to test its previous intermediate high of Rs224 levels. The daily stochastics (5,3) is in the oversold region and a rally can be expected.
Patel Engineering: Bothra recommends a buy on this engineering company with a target price of Rs 180 and a stop loss of Rs 149. The stock has come out of a bullish flag pattern on its daily charts aboveRs157 levels. The daily price pattern now exhibits a formation of an inverse shoulder-head-shoulder pattern with neckline placed at 161. Momentum indicators, RSI(14,9) as well as the MACD(12,26), show strength.
Though the website has written a buy on Bajaj Finserv with a target price of Rs 75 and stop loss at Rs 60. But the text and price is same as that of Punj Lyod. The stock had closed its trading at Rs 561 during the previous session. (Last checked 8.47 a.m., June 13, 2011)
Sharegyan recommends Siemens should be sell below Rs 864 with a target of Rs 856 and a stop loss at Rs 870 with intraday.
Sharetipsinfo states that early trade should be avoided.
The website, Technicalanalysis of stocks, recommends to buy Gravita, a company listed in November 2010. They recommend to buy with a target price of Rs 380 and stop loss Rs 351.
Firstpost suggests to track the following stocks for the day: Glaxo, SKF, Divi's Laboratories, Jain Irrigation, L&T, MRPL, Reliance Communications, IDFC and Idea Cellular.
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