Stock Tips for today, Aug 2, 2011: Buy A2ZMES

Commentary

oi-Shoaib MD

By Shoaib Md

Published: Tuesday, August 2, 2011, 8:47 [IST]

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Sharetipsinfo has recommended the stock of A2ZMES, buy it above the market of Rs 265 for a target price of Rs 275 with a stop loss at Rs 260.

The website, technicalanalysisofstocks.in, has recommended to sell the stock of Sun TV for a target price of Rs 291 and a stop loss ar Rs 335.There is bearish breakout with heavy volume.

Kusal Kansara, Chief Technical Analyst, Padmakshi Financial Svc, suggested the following stocks in Economic Times.

BPCL: For this stock the recommendation is sell with a target price of Rs 632 and a stop loss at Rs 665.50. The stock has closed below the 20-day exponential moving average. On the daily charts, the price along with the momentum indicator-RSI are at key trend line support levels. The flat ADX in the daily charts indicatdes the uptrend has come to a halt.

Ranbaxy: Here too Kansara suggests to buy the stock setting up the target price of Rs 581 and a stop loss at Rs 554. The price has closed above the strong resistance level of 554 and above the 20-DEMA, making a new two-month high. The break has come with good volumes. The OBV is making a new high. The momentum indicator-RSI has bounced from the support level of 46 and is in buy mode.

Cairn: The oil and gas company has a recommendation of buy with a target price of Rs 320 and a stop loss at Rs 307. The stock has corrected from 330 levels. The momentum indicator-RSI on hourly charts is bouncing from the oversold zone and the +DI has started to curl up and is above to cross over the -DI, indicating that the downtrend is likely to pause for a while.

L&T: The diversified engineering company has a buy recommendation with a target price of Rs 1,810 and a stop loss at Rs 1,742. The stock is bouncing from the crucial support level of the 200Dema.The momentum indicator-RSI is curling up from 41 level and has given a buy signal. The day's close has form a bullish belt hold candlestck pattern, indicating a strong uptrend.

Tata Steel: Based on technical analysis Kansara considers that the steel stock should be bought with a target price of Rs 597 and a stop loss at Rs 564. The stock has fomed a tweezer bottom and a hammer candlestick pattern. The 14-day RSI has crossed the 9-day average,and has given a buy signal. The MACD histogram is diverging positively along with the price. On weekly charts,the RSI is appearing to form a double bottom.

Firstpost has recommended the following stocks that should be tracked as favourable opportunities may arise in them: Reliance Infra, Exide, Dish TV, Axis Bank, Reliance Industries, Bajaj Holding, Neyveli lignite, Aurobindo Pharma and Dena Bank.

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