Stock Tips for Sept 13, 2011: Sell Financial Technologies

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Stock Tips for Sept 13, 2011
All stock tips are based on technical analysis. The list of stocks contain cement major ACC and pone of the finest private bank in the country, HDFC Bank.

Sharetipsinfo has recommended to sell the stock of Financial Technologies below Rs 785 for a target of Rs 755 and the stop loss should be fixed at Rs 798.

The website, technicalanalysisofstocks, has recommended to sell SKS Microfinance; the target price is Rs 256 and stop loss at Rs 283. There is negative divergence in Stochastic.

Stock picks by Shrikanth Shetty, Head, Equity Advisor, Unicon Securities, for trading.

ACC: There is a buy recommendation on the stock with a target price of Rs 1,080 and a stop loss at Rs 1,010. ACC has bullish candle stick on daily chart with decent volumes. The stock closed above long-term 200 day moving average (DMA) support at 1,016 levels. Weekly RSI has shown positive crossover into oversold territory which will tend to support reversal action if it occurs.

Delta Corp: Buy this stock with a target price of Rs 127 and a stop loss at Rs 98. On the daily chart, the stock has closed above all short- and long-term moving averages which is 65 WMA with hefty volume on a weekly basis. The RSI and stochastic indicate a positive crossover, the momentum oscillators suggest the possibility of an uptrend in the short term.

Petronet: The recommendation on this stock is buy with a target price of Rs 190 and the stop loss is placed at Rs 172. The stock has formed a bullish flag formation on the weekly chart, which gives a strong uptrend in coming days. On the daily chart, the stock is trading above a strong resistance zone at 175 with good volume support.

Punjab National Bank: Here also the recommendation is to buy with a target price of Rs 1,045 and stop loss at Rs 895. On the weekly chart, PNB has been trading above the strong support zone at 900 , which indicates positive sentiment in short-term trading and strong buying pressure around support zone at 940.

Cipla: The pharmaceutical company has a buy rating on the stock with a target price of Rs 310 and a stop loss at Rs 280. On the daily chart, Cipla has closed above 20 DMA with good volume levels. After a sharp correction from 340 levels, it has been holding above channel support at 275 levels. Indicators like RSI and stochastic are showing positive strength in coming days.

Firstpost has recommended the following stocks

Reliance Power has a sell rating on their stock on stock price below Rs 76.75, target of Rs 72. Reliance Power decision to scrap the 4,000 MW power plant in Raigarh spooked the market. With this the company has now decided to stop work on nearly 16,000 MW worth of projects.

HDFC Bank should be bought above Rs 471.20, the target price for the stock is Rs 480. HDFC Bank has been one of the strongest banking shares over the last one year. Despite a weak opening on Monday, the stock saw buying interest and closed near the high. A recovery can push the stock higher.

ITC. There is a buy recommendation on this stock when it is above Rs 198.25, target of Rs 205. With Hindustan Unilever close to touching an all-time high it is a matter of time when the sentiment is reflected in ITC.

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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.

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