Stock Tips for June 14, 2011; Buy Castrol

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Stock Tips for June 14, 2011; Buy Castrol
A study by rating agency, Crisil, stated 50 companies raised Rs 225 billion through qualified institutional placements (QIPs) in 2010. Of these, the shares of 33 companies are trading below their issue price. But leaving that on the sidelines, today's (June 14) recommendation for stocks are as following.

Sharegyan recommends a buy on the stock of Castrol with a target price of Rs 506 and a stop loss at Rs 490.

Meanwhile, Sharetipsinfo recommends a buy on the stock of Divislab for intraday. The suggestion is to buy around Rs 800 with a target price of Rs 820 and a stop loss at Rs 792.

The website, Technicalanalysisofstocks, recommends a buy on the stock TV Today with a target price of Rs 71 and a stop loss of Rs 61.

Somil Mehta, Sr Technical Analyst, of Sharekhan, suggests the following stocks on Economic Times.

GVK Power: The analyst recommends a buy with a target price of Rs 24.50 and a stop loss of Rs 21.20. The rationale is that the stock has formed an inverted head and shoulders pattern. The previous rise from Rs 20.65-23.30 was a five wave rise on hourly charts after which it has retraced exactly 61.8%. The daily and weekly MACD and KST are in buy mode.

Unitech: This stock too has a buy recommendation with a target price of Rs 37.50 and a stop loss at Rs 32.15. The stock has formed an inverted head and shoulders pattern and is ready to rise in wave C up. The previous rise was five waves up; hence, the probability of an upmove is high. The momentum indicators are in buy mode.

Dena Bank: The banking stock has a recommendation of buy with a target price of Rs 98 and a stop loss at Rs 89. The stock has provided a breakout from a bullish flag pattern, indicating continuation of the upmove. Momentum indicators are in buy mode, supporting bulls in the short term. Hence, we maintain our bias up for a minimum target of Rs 95.

Yes Bank: Mehta recommends a buy on Yes Bank with a target price of Rs 322 and a stop loss of Rs 287. He point that the stock has formed an inverted head and shoulders pattern and is likely to favour bulls going ahead. It has taken support at its 20-DMA, hence the recent swing lows should hold in order to gain further strength.

IVRCL: Here also the analyst recommends a buy with a target price of Rs 84 and a stop loss at Rs 74.10. The stock has already provided a breakout from an inverted head and shoulders pattern and has almost retested its neckline. It has also taken off the recent swing high of Rs 77.20, signalling that the next leg up has started.

Meanwhile Firstpost has recommended the following stocks to track for the day: Pantaloon Retail, Karnataka Bank, Glaxo, Divi's Laboratories, SKF, Idea Cellular, Paper Products, GSPL and HDFC Bank.

*If you know a credible source for stock tips which you would like to be covered or you are an analyst who would like to share expert commentary and insight on our website, then mail us at money@oneindia.co.in.

**Note: Editorial team at OneIndia Money retains the right to publish.


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.

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