Stock Tips for July 11, 2011: Buy Orbit Corporation

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Stock Tips for July 11, 2011: Buy Orbit Corporation
The Greece economy is being bailed out and now there are reports that Chinese banks have over leveraged themselves. And then Nouriel Roubini has said that 2013 we will have a recession again. But none of this should matter for a technical analysts because for a technician its all about moving with the momentum. So we bring to you today's recommendation by technical analysts.

(Also read views of Rajesh V in Traders Corner)

The website, Technicalanalysisofstocks, has recommended to buy Orbit Corporation with a target price of Rs 50 and a stop loss at Rs 41.

Shardul Kulkarni, Senior Technical Analyst, Angel Broking suggests theorbit following stocks in Economic Times.

HDIL: The recommendation on this stock is buy with a bullish view. The target price for the stock is Rs 182.50 and the stop loss is Rs 165. The stock has given a breakout from a downward sloping trend line atRs 169. Momentum oscillators and significant rise in volumes suggest that momentum is likely to continue. Buy this stock on a decline up to Rs 168 for a target of Rs 182.50 in coming 1-2 weeks.

MRF: Here too the recommendation is buy on positive momentum with Target price of Rs 7,880 and a stop loss at Rs 6,850.
On the daily chart, it has given a bullish breakout from "Symmetrical triangle" at Rs 7,050. The momentum oscillators are positively poised. We advise buying this stock on decline up to Rs 7,050 for a target of Rs 7,880 in coming 2-3 weeks.

CEAT: There is recommendation of buy on this stock because of a flag pattern formation. The target price for this stock is Rs 131.80
and the stop loss is at Rs 108. On the daily chart, the stock is forming a bullish "flag pattern" which will be confirmed above Rs 114.80. The momentum oscillators on the weekly chart suggest possibility of breakout. We advise buying the stock ONLY above Rs 114.80 for a target of Rs 131.80 in coming 3-4 weeks.

LIC Housing: Here the recommendation is sell with a bearish outlook. The target price is Rs 181, stop loss Rs 230. On the weekly chart, the stock has formed a "Bearish Engulfing" pattern which indicates high probability of a "Channel breakdown" below Rs 216. Momentum oscillators on weekly chart are negatively poised. Sell this stock ONLY below Rs 216 for a target of Rs 181 in coming 3-4 Weeks.

HCC: Kulkarni's recommendation for this stock is to buy with a target price of Rs 41.30 and a stop loss at Rs 32.20. The stock has given a breakout from a downward sloping trend line atRs 34. The momentum oscillators on weekly chart and rise in volumes suggest that the up move may continue. We advise buying the stock only above Rs 34.80 for a target of Rs 41.30 in the coming 1-2 weeks.

FirstPost suggest to keep an eye on the following set of stocks for the day: Bombay Dyeing, DLF, Essar Oil, ICICI Bank, India Cements, United Phosphorus, Patni Computer, Century Textile and Reliance Communications.

Your feedback is valuable to us. Mail at money@oneindia.co.in

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: bse, stock tips, nse, sensex, nifty, investment
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