Stock Tips for Sept 15, 2011: Buy IOC, Axis Bank

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Stock Tips for Sept 15, 2011: Buy IOC, Axis Bank
The intraday recommendations are based on technical analysis done by experts. These recommendations include PSU oil marketing major IOC, and Axis Bank the second biggest private bank in India along with many other stocks.

Sharetipsinfo has recommended the stock of Indian Oil Corporation to buy above Rs 323 and stop loss at Rs 320. The target price set for the stock is Rs 328.

Crompton Greaves has a buy recommendation by the website, technicalanalysisofstocks, with the target price of Rs 165 and a stop loss at Rs 145. It has crossed the previous top with high volume on news of promoters increasing their stake in the company. 

Shrikant Chouhan, Senior Vice President (Technical Research), Kotak Securities has recommended the following stocks on Economic Times.

Axis Bank: There is a buy recommendation for this stock with target price set at Rs 1,140 and stop loss at Rs 1,054. The stock has formed a morning star pattern on daily chart, which is an indication short-term bottoming out for the same.

Hindalco: For this stock the recommendation is buy with target of Rs 155 and Rs 143. The stock seems to be oversold and having strong support at 144/143 levels. The current recovery may take the stock to a minimum of Rs 151 and maximum of Rs 155.

Lovable Lingerie: Here the stock has a buy recommendation on the target Rs 570 and stop loss Rs 507. After a decent run-up from Rs 340 -636 levels, the stock is correcting and is available at an attractive level of retracement (38.20%).

Sesa Goa: There is a sell recommendation for the target price of Rs 200 and a stop loss at Rs 233. The stock seems to be under distribution pattern between Rs 232 and Rs 225. As it closed below Rs 225, we may expect weakness in the near term. As per bar chart, it has formed bar reversal pattern below Rs 222. It has potential to fall up to Rs 205 in weak markets.

Jet Airways: Here again there is a sell recommendation for the target price of Rs 210 and a stop loss at Rs 288. The stock has completed its upward pull back at Rs 310 and reversed sharply. It may continue its weakness as the sell-off was severe from Rs 500 levels. It may see the biggest exit from long-term investors. We can expect minimum fall to Rs 245 or it can also go all the way up to Rs 210 on the downside.

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