Stock Tips for June 27, 2011: Buy Sesa Goa

Commentary

oi-Shoaib MD

By Shoaib Md

Published: Monday, June 27, 2011, 9:27 [IST]

Before moving on to today's stock, it would be important to factor in the biggest news of the weekend. Increase in fuel price by the government was an important step but even this is too little and too late. This will have effect on the stock market throughout the day. Bringing new interest in defensive stocks. Then China's Primeir said that China would help the Euro zone meet its commitments. This will be an interesting event to keep track of.

(also check out opportunities discovered by Rajesh)

Now coming to the recommendations by the experts.

Sharegyan has recommended the stock, Sesa Goa, as buy with a stop loss of Rs 278 and a target price of Rs 288. Its an intra-day stock.

Meanwhile Sharetipsinfo recommends buy on the stock of Godrej Industries, with a target price of Rs 215 and a stop loss at Rs 196. This suggestion is with respect to Positional Futures.

The website, technicalanalysisofstocks, recommends the stock Moser Baer with a target price of Rs 42 and a stop loss at Rs 35. Its for short term suggestion.

Michael Pillai, Technical Analyst, Nirmal Bang, has suggested the following stocks to be followed today.

Axis Bank: Pillai recommends a buy on this stock with a target price of Rs 1328 and a stop loss at Rs 1245. Accumulate from a short-term delivery perspective, structure looks very positive as the stock closed strongly above its 50-DMA of 1,264. The stock, after consolidating for a long time in the range of .Rs 1225-1290, is about to break the trading band. Immediate targets could be in the range of Rs 1295 -1328.

Bharti Airtel: This telecom stock too has a buy recommendation with a target price of Rs 435 and a stop loss at Rs 380. Buy on dips and accumulate the stock from a long-term perspective keeping a trading stop-loss of Rs 380. Structure looks very positive as the stock is showing strong resilience in this downtrend market. Huge cash delivery-based buying is happening.

L&T: The engineering company has a recommendation of buy with a target price of Rs 1850 and a stop loss at Rs 1708. Accumulate on dips from a short-term delivery perspective keeping a trading stop-loss of 1,708. The stock is in a strong up trend as it is holding firmly above its 200-day EMA of 1704. Structure looks very strong for a target of 1850.

JSW Steel: Pillai also recommends this stock with a target price of Rs 920 anf a stop loss at Rs 852. Buy and hold with a stop-loss of Rs 852 from a short-term trading perspective. The steel sector has been continuously under-performing and consolidating for quite some time. Going forward, we believe if the stock holds above Rs 883, then we see a strong rally taking place with a price target of Rs 920. RSI giving a strong buy signal.

Tata Steel: Here too the recommendation is buy with a target price of Rs 628 and a stock loss at Rs 560. Accumulate on dips from a trading perspective keeping a trading stoploss of Rs 560. The counter is showing strong signs of revival after a continuous downtrend. The technical oscillator RSI is also giving a positive signal towards a possible rally.

Firstpost have picked Adani, APIL, GSPL, Patel Engineering, Bajaj Hindustan, Crompton Greaves, L&t, Jain Irrigation and BPCL as the 9 stocks of the day.

*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 [email protected].

**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.