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Stock Tips for June 16, 2011: Buy Exide


Stock Tips for June 16, 2011: Buy Exide
As rating agencies finally started downgrading Greece, stock markets in the developed world jittered. But there is a good news also, crude prices fell as the European crisis deepened. This will benefit India, as crude prices make major impact on the country's performance since India imports nearly 80% of its crude requirements.

With this note, today's recommendation from experts are as following.


Sharegyan has recommended a buy on Exide Industries for intraday-trade, with a target price of Rs 162. And recommended a stop loss of Rs 162.

And Sharetipsinfo recommends Godrej Industries for intra-day trade. The suggestion stands to buy above Rs 198 with a target price of Rs 203-206, and stop loss be set at Rs 194.

Meanwhile the website, technicalanalysisofstocks, has recommended a sell on the stock of Lovable Lingerie. The target price for the stock is Rs 378 and a stop loss of Rs 417.

Jitendra Mehta, VP, Institutional Equities-Sales, Edelweiss Securities, recommended the following stocks in the Economic Times.

ICICI Bank: This stock has been recommended as a buy with a target price of Rs 1,100 and a stop loss at Rs 1,000. ICICI Bank is forming higher lows in a trading range of Rs 950-1,150. The current decline in the stock is a good opportunity to accumulate it near crucial support zone of Rs 980-1,000. The stock is testing its rising demand line.

Sterlite Industries: The recommendation on this stock is buy with a target price of Rs 185. Mehta also says to place a stop loss at Rs 155. Sterlite Inds has been consolidating in a trading range of Rs 160-185. The rectangle formation is intact for more than a year. We expect the lower band of the rectangle to provide support.

Titan Industries: The leading company in the watch market has recommended a sell with a target price of Rs 4,100 and a stop loss at Rs 4,550. Titan Inds has started coming out of a highly overbought position after multiple negative divergence. Daily RSI has rolled into negative territory while ADX depicts trend exhaustion. We expect a decline towards 50-DMA around Rs 4,100 level.


ITC: The suggestion by Mehta for this stock too is a buy with a target price of Rs 220 and a stop loss at Rs 188. ITC has been advancing in a weekly rising trend channel. The stock closed at its all-time high level and has been consistently forming higher peaks and troughs. Daily oscillators are supported with a rising ADX and bullish 14-day DMI set-up.

Hindalco Industries: Here also the recommendation is buy with a target price of Rs 190 and a stop loss at Rs 169. Hindalco is a contrarian call. The stock has been on a decline and is now nearing its previous peak of Rs 170. Daily oscillators have entered oversold levels and open interest in futures suggests concentrated short position.

Firstpost have recommended the following stocks to be monitored closely: Pantaloon, Zee, Hero Honda, Bajaj Auto, JSW Steel, Lupin, Idea Cellular, Jain Irrigation and HDFC Bank.

*If you know a credible source for stock tips which you would like to be covered or you are an analyst who would like to share expert commentary and insight on our website, then mail us at

**Note: Editorial team at OneIndia Money retains the right to publish.

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.

Read more about: bse stock tips nse sensex nifty
Story first published: Thursday, June 16, 2011, 8:57 [IST]
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