Stock Tips for Oct 7, 2011: Buy Larsen & Toubro, Sell Jubilant Foodworks

Posted By: Staff
Subscribe to GoodReturns

Stock Tips for Oct 7, 2011
The analysts' have based their recommendation on technical analysis. There are many different companies representing various sectors and industries.

Sharetipsinfo has recommended to sell the futures of Jubilant Foodworks below Rs 660 with the target price of Rs 640 and stop loss at Rs 668.

The website, technicalanalysisofstocks, has recommended to buy the stock of Aanjaneya with the target price of Rs 425 and stop loss at Rs 370. There is a minor bottom formationand a bullish wedge.

Rakesh Mehta, Research Analyst, Fullerton Securities & Wealth Advisors has recommended the following stocks for the day.

Larsen & Toubro: This engineering stock has a buy recommendation with the target price of Rs 1450 and stop loss at Rs 1300. Over the last one month the stock has witnessed a steep correction of about 25%. The weekly RSI and stochastics have entered into oversold zone.

India Cements: Here too there is a buy recommendation with the target price of Rs 80 and stop loss at Rs 65. On the weekly charts, the stock has formed a firm base around the Rs 60-65 range. The price consolidation, coupled with spike in trading volume witnessed over the past month, indicates a trend reversal.

Sterlite Industries: For this company the recommendation is the target price of Rs 120 and stop loss at Rs 98. After a year-to-date correction of around 45%, the stock seems to have formed a bottom around Rs 100. The stock is way below its vital moving averages and we expect some retracement from current levels.

Sun Pharma: The pharma company has a recommendation with the target price of Rs 500 and stop loss at Rs 425. The positive momentum built in the stock around the important support of Rs 450 can take the stock to around Rs 500 levels in the near term. Also, consistent close above the vital long-term 50-week moving average has improved the probability of momentum sustainability.

Jubilant Foodworks: Here the buy recommendation was set for the target price fo Rs 630 and stop loss at Rs 659. After a monthly correction of around 35%, the stock seems to have support around Rs 650. The stock is very close to its 50-week moving average and we expect some retracement from current levels.

Your feedback is valuable to us. If you have an opinion, a question or would like to share your thoughts on stocks, investments, business policy or companies mail at money(at)oneindia(dot)co(dot)in

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.

Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Find IFSC