Stock Tips for Oct 5, 2011: Buy A2ZMES, Sell GE Shipping

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Stock Tips for Oct 5, 2011
The analysts' have based their recommendation on technical analysis. There are many different companies representing different sectors and industry.

Sharetipsinfo has recommended to sell Great Eastern Shipping below Rs 228.50 with the target price as Rs 222-220 with stop loss at Rs 231.

The website, technicalanalysisofstocks, has recommended to buy the stock of A2ZMES with the target price at set at Rs 217 and stop loss placed at 180.

Amit Harchekar, CMT, IIFL Private Client Group, IIFL has recommended the following stocks in Economic Times.

Tata Steel: There is buy recommendation on the stock with the target price of Rs 430 and stop loss at Rs 385. Tata Steel has a support line of the falling wedge pattern, retracing almost 138.2% of its previous rally and hence levels of Rs 387 will turnout to be a critical turning point. 

Cairn India: There is a sell recommendation on the stock with target price of Rs 250 and stop loss is Rs 272. A breakdown from Head and Shoulder top below Rs 270 has affirmed bearish trend. A down crossover in MACD below reference line has generated fresh sell signal. A dead cross of 10 DMA with 50 DMA also corroborates further negativity in the stock.

Cinemax India: Here again there is a buy recommendation with the target price of Rs 41 and stop loss at Rs 33. The long-extended correction in Cinemax has paused after a solid breakout from 'falling channel' which is supported with very high volumes. On the daily chart, the stock has been resisting at support of channel which earlier acted as resistance.

Hindustan Unilever: For this FMCG stock too there is a sell recommendation with the target price of Rs 307 and stop loss at Rs 337. The rising support line extended from intermediate trough of Rs 266 was violated on Tuesday with high volumes. A negative divergence on weekly RSI is also indicating that intermediate top is already in place with very low chances of taking it out in the near term.

Colgate: For this stock also the recommendation is to buy with the target price of Rs 1,040 and stop loss at Rs 965. The stock had been moving in a range of Rs 940-995 holding the support of its 50-DMA for two weeks. The rising slope line still remains intact despite consolidation. A breakout above Rs 995 will refuel positive momentum in the counter with immediate upside seen at Rs 1,100.

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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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