Stock Tips for Aug 29, 2011: Buy Sesa Goa, HPCL

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Stock Tips for Aug 29, 2011: Buy Sesa Goa, HPCL
Stock tips for August 29, 2011, includes Sesa Goa, Kwality, Titan industries, Kotak Mahindra Bank and many more. All of these have been picked by experts based on the technical analysis of stocks. 

The Sharetipsinfo recommends to buy the stock of Sesa Goa below Rs 202 and the target price of Rs 206 and a stop loss at Rs 196. 

The website, technicalanalysisofstocks, recommends to buy the stock of Kwality with target price of Rs 174 and a stop loss at Rs 162. There is consolidation near minor top.

Kunla Bothra, Sr. Technical Analyst, Manager Advisory, LKP, suggests the following stocks in Economic Times.

HPCL: Here the recommendation is sell with a target price of Rs 350 and a stop loss at Rs 395. The weekly price suggests a fresh 11-week closing low reflecting a downtrend. With MACD showing a fresh bearish crossover on the daily charts and the moving averages trending downwards, fresh selling is likely in the coming weeks.

Titan Industries: Here too, Bothra recommends to sell the stock with a target price of Rs 185 and stop loss at Rs 214. The stock is in a downtrend with volumes drying and strong resistances at Rs 214 and Rs 220 levels. Also the stock has been continuously hitting the lower end of the Bollinger band, this suggests selling pressure will intensify.

Kotak Mahindra Bank: For this banking stock too there is huge selling pressure and the target prcie for the stock is Rs 375 with stop loss at Rs 440. On daily charts, the stock shows a shoulder-head-shoulder pattern breakdown. It is also trading below its Rs 200 DEMA, which is also at Rs 440 levels. The height of the H&S pattern indicates a 65-point fall from the neckline at Rs 440 levels.

Exide Industries: There is a sell recommendation on this stock with a target price of Rs 145 and a stop loss at Rs 153. The daily price pattern in the line chart shows the formation of a complex head and shoulder with neckline at 150 levels. The weekly chart shows an RSI divergence.

Ranbaxy Laboratories: For this pharmaceutical company the recommendation is sell with a target price of Rs 410 and a stop loss at Rs 475. Technically, the monthly chart depicts a probable shoulder-head-shoulder formation with the neckline placed at Rs 440 levels.

First post recommends event driven stocks based on technicals. It recommends the following stocks-

Canara Bank (Buy above Rs 403, target of Rs 415)
Canara Bank has taken support at its previous bottom of Rs 401. A small bounceback can be expected in banking stocks, which will benefit Canara Bank reach it previous resistance level.

Cipla (Buy above Rs 277.5, target of Rs 285)
The Cipla stock can bounce back from its support level on news of the company tying up multinational companies for a marketing alliance. 

JSW Steel (Sell below Rs 594, target of Rs 580)
With the Supreme Court directive to suspend iron ore mining in areas from where JSW Steel used to source its iron ore, the company will now have to cut down it production even further. This can lead to selling of the stock considering an overall downward pressure in the stock market.

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