Sharetipsinfo recommends to sell Indiabulls Real Estate below the target price of Rs 76.20 with a target price of Rs 72 and stop loss at Rs 78.50. This has been recommended for the Positional Futures.
Rajesh Manial, AVP - Technical Research, GEPL Capital suggested the following stocks for the day with Economic Times.
Titan Industries: Manial recommended to sell this stock with a target price of Rs 150 and a stop loss at Rs 220. Titan appears to be forming a multi-year top. An intermediate degree fifth wave seems to have played its course since early 2009. It appears ripe for a strong reversal in medium term as it has breached the demand line of an up sloping trend channel.
Oriental Bank of Commerce: Here the recommendation is to sell with a target price set for Rs 275 and a stop loss at Rs 355. Post its selloff since November 2010 highs, Oriental Bank appears to be tracing out a triangle on the weekly chart, which is suggestive of further down side. Sell at current levels and on any upside till 330 with a stop loss of 355 for a potential target of 275.
Tata Chemicals: For this stock too the recommendation is sell, the target ptice set is Rs 321 and stop loss at Rs 358. Tata Chemical has recently registered a downward breach of its 200 Day EMA and the momentum indicators on the daily chart are still suggesting further downsides in the short term. It can slide down to 321 over the course of next few days.
Gujarat Fluorochemicals: Here too the recommendation is sell with a target price of Rs 400 and a stop loss has been set at Rs 487. Gujarat Fluoro has formed an evening star pattern on the daily chart after an extensive upmove. In addition to this bearish candlestick set-up, the RSI has also registered a bearish divergence, which adds to the bearish evidence. Sell with a stop loss of 487, it may retrace till 400.
Mahindra & Mahindra: For the flagship company of mahindra & Mahindra, the recommendation is to buy with a target price of Rs 826 and a stop loss at Rs 697. The stock appears to be tracing out a triangle pattern on the weekly chart, which is a pen-ultimate pattern. A final thrust on the upside may take it higher to its all time high of 826. Buy only on a break out beyond 755 with a stop loss of 697.
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