Stock Tips for today, Aug 10, 2011: Buy DB Realty

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Stock Tips for today, Aug 10, 2011: Buy DB Realty
Today's stock recommendation includes industry leaders like Bharti Airtel, Indian Oil Corporation, Infosys and many more.

The website, technicalanalysisofstocks, suggested to buy DB Realty for its bullish Doji at minor bottom. The stop loss for this trade is Rs 66 and Rs 78.

Amit Harchekar, CMT, IIFL Private Client Group, IIFL, suggested the following stocks in Economic Times.

Infosys: The recommendation here is to buy with a target price of Rs 2,560 and a stop loss at Rs 2,300. The recent turmoil in the stock price has landed it in the support zone ofRs 2,350. With appearance of 'inverted hammer' on daily candlestick chart, a trend reversal would be confirmed on opening above Rs 2,385. We advise initiating long position only above Rs 2,385.

RIL: There is buy suggestion on this stock too for the target price of Rs 820 and a stop loss at Rs 730. Formation of a 'falling wedge' on the weekly chart depicts end of nearterm correction. The amplitude of the pattern projects a target of Rs 945. However, the price could oscillate at Rs 750-820 before breaking on the upside. With reward-to-risk ratio favouring upside, a buy is recommended.

AB Nuvo: Here the receommendation is sell for a target price of Rs 800 and a stop loss at Rs 900. The strength has disappeared after the stock closed below the 50 DMA at Rs 910. The rising support line of 'ending diagonal' was placed at Rs 885 and close below the same could take the stock price near Rs 800. The daily RSI has signaalled negative crossover, thus confirming a trend reversal.

Bharti Airtel: The telecom company too has a recommendation to sell with a target price of Rs 387 and a stop loss at Rs 417.
Appearance of the 'dark cloud' cover on the weekly candlestick chart establishes medium-term trend reversal. Although, on Tuesday, prices halted above the 50 DMA but RSI on weekly chart indicates lower low with downward crossover corroborating its nearterm support of Rs 375.

IOC: For this oil stock too, the recommendation is sell with the target price set at Rs 324 and a stop loss at Rs 345. The stock has been facing hurdle of 200 DMA placed at Rs 340 since last two trading sessions which also coincides with downward sloping resistance line of the triangle. Applying the Elliot wave principle indicates completion of corrective wave 4 at Rs 345.

Firstpost, meanwhile, has recommended the following stocks for the day. Though there is a trigger price and a target price but there is no stop loss price.
Tata Steel (Buy above Rs 488; target of Rs 500)
ABB (Buy above Rs 806; target of Rs 825)
Cairn India (Buy above Rs 281.25, target of Rs 300)

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Read more about: recession, bse, stock tips, nse, sensex, nifty
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