Stock Tips for today, Aug 17, 2011: Sell Nifty Futures and Buy Coal India

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Stock Tips for today: Sell Nifty Futures
Today's stock tips include stocks like Coal India, Ambuja cement and many more. On the futures front Sharetipsinfo has made its recommendation for intraday gains.

Sharetipsinfo suggests to sell Nifty Futures on intraday basis around Rs 5056 for a target level of 5000 and a stop loss at the level of 5100.

The website, technicalanalysisofstocks, has recommended to buy the stock of Coal India for a target price of Rs 409 and a stop loss at Rs 378. There is consolidation near minor top, the trend suggests that there will could be bullish breakout expected any time. 

Rajesh Jain, EVP & Head, Retail Research, Religare Securities recommends the following stocks in Economic Times.

Ambuja Cements: For this stock the recommendation is buy with a target price of Rs 142 and a stop loss at Rs 126. The stock has formed a double bottom at around 120 levels. Now it is giving a breakout from the same. It has also managed to close above its 200-DMA. Rising volumes in past four sessions are also showing positivity in the stock. One may buy the stocks in the range of 129-130.

Allahabad Bank: Here, Jain recommends to sell with a target price of Rs 172 and a stop loss at Rs 198. The stock has multiple-bottom support around 182 levels and has been rallying from these levels. It is once again trading very close to those support levels and once they are broken we may witness a sharp fall towards 170 levels in near term.

Biocon: The recommendation for this stock too is to sell with a target price of Rs 305 and a stop loss at Rs 338. The stock formed a symmetrical triangle on daily graphs and has now broken down below the rising trendline support of the pattern. The stock is at 12-week lows and would continue to remain in downtrend as long as it trades below 338 levels.

Marico: For this stock too the recommendation is buy with a target price of Rs 172 and a stop loss at Rs 157. Despite a correction in the broader index, the stock is trading close to its all-time high. After a consolidation in the past three sessions the stock has broken its declining trendline from the top. Volumes have also risen in last session. One may buy this stock in the range of 160-161.

Sun Pharmaceuticals: Here too the recommendation was to sell with a target price of Rs 452 and a stop loss at Rs 486. After making all-time high of 540 last month, the stock has shown a sharp correction of almost 8.50% in August so far and went into consolidation to form a pennant formation on daily chart. Now it is giving breakdown from the same. One may short sell the stocks in the range of 480-483.

Meanwhile, Firstpost recommends the following stocks.
Aban Offshore (Sell below Rs 380.50, target of Rs 360)
Aditya Birla Nuvo (Sell below Rs 870, target Rs 850)
Cairn (Buy above Rs 283, target Rs 300)

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GoodReturns.in DISCLAIMER: GoodReturns 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. GoodReturns 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
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