Stock Tips for Sept 28, 2011: Buy Havells, Rajesh Exports

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Stock Tips for Sept 28, 2011
All the stock tips are based on technical analysis. The recommendations include engineering manufacturing company Havells along with gold and diamond manufacturer Rajesh Exports.

Sharetipsinfo has recommended to buy the stock of Havells aboive Rs 269 with target price of Rs 376 and stop loss at Rs 365. 

Meanwhile the website, technicalanalysisofstocks, has recomemded the stock of Rajesh Export with target price of Rs 139 and stop loss at Rs 110.

Rajesh Jain, EVP & Head - Retail Research, Religare Securities suggested his top five picks in Economic Times.

Bata India: For this stock there is a sell recommendation with the target price of Rs 605 and a stop loss at Rs 671. After forming head & shoulder pattern at the top it is breaking down from its neckline. Volumes are also increasing which shows the weakness in the stock.

Airtel: Here too the recommendation is sell with the target price of Rs 362 and stop loss at Rs 399. The stock has formed a head & shoulder pattern on daily chart and has given a breakdown. Now it has pulled back towards its neckline and is likley to fall further.

GMDC: For this stock there is a buy recommendation with target price of Rs 190 and stop loss at Rs 172. The stock has been in consistent uptrend for the past seven months and now it has tested its trendline support on daily charts.

HUL: Buy this stock with the target price of Rs 359 and stop loss at Rs 325. The stock hit all-time highs around 354.80 two weeks back after which it corrected towards 325 levels. It is trading above all moving averages and looks to move towards its highs once again.

MPSEZ: Jain's recommendation here is to buy with target price of Rs 170 and stop loss at Rs 147. The stock was trading in a declining channel. After testing the bottom of the channel where it is also taking support from its 200 EMA on daily chart. Now it is breaking out from the same.

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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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