Stock Tips for June 21, 2011: Buy GTL

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Stock Tips for June 21, 2011: Buy GTL
Fear that the double taxation avoidance treaty may be renegotiated spooked the markets. The stocks which saw run over were GTL and GTL Infra. The two companies saw their stock prices crash. Of the analysts we cover, only one has recommended the GTL Stock to buy in order to profit from reversal. Moving forwards, todays recommendation by the analyst community is as following.

GTL is being recommended by Sharetipsinfo, buy the stock when it is above Rs 135-140 and a stop loss at Rs 122. This stock is being suggested for 1-2 days.

Sharegyan recommends to sell Shoppers Stop for intra-day when the stock goes below the Rs 436 mark, with a target price of Rs 410-406. Maintain the stop loss at Rs 426.

The website, technicalanalysisofstocks, recommends a sell on SKS Microfinance. It has set the target price at Rs 379 and a stop loss at Rs 420.

Shrikant Shetty, Head-Equity Advisory, of the Unicon Securities, recommended the following stocks in Economic Times.

BHEL: This stock has a recommendation sell, with a target Price of Rs 1,800 and stop loss at Rs 1,960. Shetty says that BHEL has bearish candle stick on daily charts with good volume support. The stock has closed below the medium-term 20-day moving average support at Rs 1930. Daily RSI has shown negative crossover into the overbought territory, which may tend to resistance reversal.

Bank of India: Shetty recommends sell on this banking stock as well. The target price is Rs 390 and place the stop loss at Rs 415. On weekly charts, the stock has closed below strong support at Rs 412, which is 61.80% Fibonacci retracement with decent volume support on a daily basis and the RSI and stocastics are indicating negative crossover, the momentum oscillators suggest possibility of a downtrend.

Idea: The telecom stock has a buy on it, with a target price of Rs 100 with a stop loss of Rs 71. Idea has breakout at Rs 74 levels on weekly chart, which shows short-term trend remain positive for potential target of Rs 100. The stock has formed higher-top-higher-bottom formation, which indicates positive sentiment in short-term trading. Buy Idea at support levels.

Bharti Airtel: The recommendation here too is buy with a target price of Rs 416 with a stop loss of Rs 380. On daily charts, Bharti Airtel has closed with a bullish candle stick with good volume support and the stock is trading above short-term resistance zone at Rs 389, which indicates a crossover above Rs 390. The stock may touch potential target of Rs 410.

ONGC: Shetty suggests sell with a target price of Rs 230 and stop loss of Rs 270. On daily charts, ONGC has closed below the previous bottom at Rs 260 with good volume support. The stock has closed with a negative bias, below the 20-DMA at Rs 270. Any genuine rise till resistance at Rs 260 should be used as a selling opportunity.

For today, Firstpost have picked Aditya Birla Nuvo, GT Offshore, Punjab National Bank, Hero Honda, REC, Voltas, JP Associate, Bank of Baroda and HUL as the 9 stocks of the day.

*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

**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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