Stock Tips for June 8, 2011: Buy Havells India

Commentary

oi-Shoaib MD

By Shoaib Md

Published: Wednesday, June 8, 2011, 8:43 [IST]

Market experts are of the view that consolidation is on the horizon. Most expect the markets to remain directionless for now and will remain with a slight negative bias till the end of the quarter. There should be a revival after that. But one can always profit from the movement of individual stocks. On this note we bring to you today's -- June 8, 2011 -- recommendation by different experts.

Sharegyan recommends Havells India for intraday. The target price for the stock, Havells, is Rs 435 and a stop loss at Rs 421.

Similarly Sharetipsinfo has also recommended a stock, Bata India, for intraday. The target price for Bata India is Rs 516 and the stop loss for the same is 503.

The website, Technicalanalysisofstocks.in, recommends to buy TV Today with a target price of Rs 73 and a stop loss at Rs 61. The stock's long-term MAC crosses short term MAV curve.

Rajesh Jain, EVP & Head - Retail Research, Religare Securities suggests the following stocks for the intra-day trader.

Ambuja Cements: Jain has recommended a buy on this cement company, as he is bullish about it. He recommends a target price of Rs 155 and has suggested to place a stop loss at Rs 137. The stock has formed an inverted head & shoulder pattern on daily charts, which is bullish in nature. After giving the breakout, it is again testing the neckline of the same. One can buy at Rs 141-142 with a closing stop loss of Rs 137.

Havells India: He has also recommended a buy on this stock as well with a target price of Rs 465 and a stop loss of Rs 408. The stock is in a strong uptrend for the past four months. The stock is trading close to its all-time high, with good volumes. In this quarter, the stock has given more than 15% returns against the index, which fell more than 4%.

Jaiprakash Power Ventures: This power company too has a buy recommendation with a target price of Rs 60 and stop loss of Rs 49. On weekly charts, the stock has formed an inverted head and shoulder pattern and is on the verge of breakout from its neckline. It has also crossed its 200-EMA on daily charts. One may buy the stock around Rs 51-52.

Sun Pharmaceutical Industries: This stock too has a recommendation of Buy on it with a target price of Rs 525 and stop loss at Rs 475. The stock trades at 20-week high levels and is very close to its all-time high level of Rs 511.75. The stock has shown better comparative strength as compared with other pharmaceutical counters, if we compare them against Nifty returns.

Firstpost have suggested to keep track of the following stocks for the day: NMDC, Kotak Bank, VIP Industries, BHEL, Cairn, Dish TV, EKC, GAIL and Hindalco.

OneIndia Money DISCLAIMER: OneIndia Money 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. OneIndia Money does not take any responsibility for any losses incurred by investors who take their cues from the above article.