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Stocks to look at and buy for the day
Share tips info recommends Chennai Petroleum Corporation stating a buy at Rs 221-220, with a target of 228-230. Stoploss is recommended at 218.50. Time frame for the stock is 1-2 days.
The top 5 picks for the day by Shardul Kulkarni, Sr Technical Analyst at Angel Broking for Economic Times are as following.
HDFC Bank: The recommendation is buy with a target price of Rs 2,380 with a stop loss Rs 2,268. The stock is taking support at the 200-day SMA. On weekly charts, the stock has formed a bullish engulfing Japanese candle stick pattern. We advise buying the stock on a decline up to Rs 2285 for a target of Rs 2380 in the coming 1-2 weeks.
Bombay Dyeing: The recommendation is buy with a target price of Rs 363 with a stop loss Rs 328. The stock has formed a bullish engulfing Japanese candle stick pattern. The momentum oscillators on daily charts suggest possibility of an upside. We advise buying the stock on declines up to Rs 336 for a target of Rs 363 in the coming 1-2 weeks.
JSW Steel: The recommendation is Sell with a target price of Rs 867 with a stop loss Rs 930. On daily charts, momentum oscillators suggest a possibility of an upward sloping trendline breakdown. A fall below Rs 912 will indicate a fresh break-down. We advise selling the stock only below Rs 912 for a target of Rs 867 in the coming 1-2 weeks.
Sesa Goa: The recommendation is Sell with a target price of Rs 272.50 with a stop loss Rs Rs 295. On daily charts, the stock is moving in a lower-top-lower-bottom formation. The momentum oscillators are negatively poised. We recommend selling this stock only below Rs 288.5 for a target of Rs 272.5 in the coming 1-2 weeks.
Suzlon Energy: The recommendation is Sell with a target price of Rs 45.50 with a stop loss Rs Rs 52.35. The stock is facing a resistance at the 200-day SMA. We are witnessing a head-and-shoulder pattern breakdown on the hourly chart. We advise selling the stock only below Rs 50.4 for a target of Rs 45.5 in the coming 1-2 weeks.
On the other hand, Firstpost.com have stated a list of stocks that will see some movement. Though they have given a direction of the movement, there is no clear cut target or stop loss mentioned in their article. Teh stocks are as following: Balrampur Chini, Canara Bank, BHEL, Cummins, GAIL, Pantaloon, Patel Engg, ITC and RCOM are the 9 stocks that should be monitored today.
Though we have taken as much care as possible to collect the information and presenting here. But considering the volatile nature of the stock market it is highly recommended that you do your own research as well.
