Stock Tips for Sept 9, 2011: Buy REC and Bajaj Auto

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Stock Tips for Sept 9, 2011
The stock tips include REC, Bajaj Auto, Jindal Saw and many more. These recommendations are based on technical analysis. 

Sharetipsinfo has recommended the stock of Rural Electrification Corporation to buy above Rs 180, with a target price of Rs 186 and a stop loss at Rs 176.50.

The website, technicalanalysisofstocks recommends to sell the stock of Sintex for the target price of Rs 152 and a stop loss set at Rs 168. There is minor top formation, negative divergence in stochatics.

Amit Chheda, Head Equities,Inventure Growth & Securities has recommended the following scrips in Economic Times.

Bajaj Auto: The recommendation on the stock is buy with a target price of Rs 1,695 and a stop loss Rs 1,600. Bajaj Auto is in a bull trend. The stock has retraced from its recent high of 1694. It has taken support at the near term trend line and given a bullish candle pattern called hammer. This suggests that the stock is set for a fresh rally from current levels.

DCHL: There is a sell recommendation on this stock with target price set at Rs 340 and stop loss Rs 314. This stock is in a down trend. The fall has been with significant volumes. Since last one week it is showing a bounce back. This suggests that the recent rise is just a temporary bounce back in an overall downtrend.

APIL: Sell this stock with a target price of Rs 525 and a stop loss at Rs 577. APIL has given a shooting star candle pattern after a rise from Rs 490 odd levels. A shooting star candle pattern is bearish reversal pattern and is preceded by a rise.

Jindal Saw: Chheda has recommended a sell on the stock with a target price of Rs 118 and stop loss Rs 137. Jindal Saw is witnessing a rise in the stock price, however, the volumes are falling every day since last few trading sessions. This suggests that the current rise in price actually lacks strength and could be viewed as a bounce back in an overall downtrend.

Andhra Bank: The recommendation to sell on this stock with the target price of Rs 120 and stop loss Rs 135. Andhra Bank has taken a resistance at a trendline coming from all time high of Rs 190 levels. Further the stock has faced selling pressure and has come off from days highs. The stock is also showing signs of bearish reversal by giving a shooting star pattern.

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