Stock tips for October 16, 2012

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Stock tips for October 16, 2012
Here are a few stock ideas from leading brokerage houses in the country.

Reliance Industries

Sudarshan Sukhani of s2analytics.com advice traders to buy Reliance Industries . The support for stock is seen around Rs 820.

Sukhani told CNBC-TV18, "Reliance Industries can do anything. There can be a surprise one way or the other and that is something we do not know- if I were to simply look at the charts ignoring the fact that we have news coming in today the charts would tell us that there is some kind of support emerging at the Rs 820 area and Reliance should be a buy rather than a sell."

Shardul Kulkarni, Sr.Technical Analyst, Angel Broking is of the view that, one can buy Reliance Industries (RIL) around the support level of Rs 806-810 by placing a stop-loss at Rs 790.

Kulkarni told CNBC-TV18, "Reliance Industries has a strong support zone around Rs 806-810, so as long as the stock stays above Rs 806 levels it is quite bullish. The stock should be accumulated at the current levels. We were hoping about a week back Rs 820 will not be broken but unfortunately Rs 820 was broken and the stock moved sideways for about five trading sessions."

Balrampur Chini

Balrampur Chini Mills has a potential target of Rs 78. One can buy the stock at any dip, says Shardul Kulkarni, Sr.Technical Analyst of Angel Broking.

Kulkarni told CNBC-TV18, "In sugar pack I think Balrampur Chini Mills will be the best bet because the stock is clearly in a very strong higher top, higher bottom trend and it has given a fresh breakout. The strong resistance was at around Rs 70 and that resistance has been crossed. I think the potential target for the stock is at Rs 78 and one should be looking at any decline to buy.

Gujarat State Petronet

IIFL is bullish on Gujarat State Petronet  (GSPL) and has recommended buy rating on the stock with a target of Rs 86 in its October 15, 2012 research report.

"Gujarat State Petronet (GSPL) on the daily chart has been taking support at neckline of rounding saucer pattern and move past Rs81 should confirm a trend reversal. The amplitude of pattern projects medium term target beyond Rs100. The daily RSI has entered into support zone 50 which enhances risk reward ratio for a rally. (Duration 10 days)," says IIFL research report.

Sintex Industries

Dolat Capital is bullish on Sintex Industries  and has recommended buy rating on the stock with a target of Rs 89 in its October 15, 2012 research report.

"Sintex Industries, for the quarter under review, Sintex revenues increased by 3% YoY to Rs 11.9bn as against Rs 11.5bn in Q1FY12 (Dolat estimates Rs 11bn) led by strong performance from its prefabs segment which grew 37% YoY. The party spoiler continued to be monolithic & the overseas custom moulding segment which reported de-growth of 14% & 6% respectively for the quarter under review."

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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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