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Stock Tips for today, July 20, 2011: Buy Kotak Bank


Stock Tips for today, July 20, 2011: Buy Kotak Bank
Despite all the challenges that India witnesses — inflation, resultant rate hike fears, concern on reforms, corporate earning downgrades, corruption etc — as well as a potential sovereign debt crisis in the US and Europe. India is still a safe bet for most investors. And that is why FIIs will keep coming.

So for today the experts' suggestions are as following.


Sharetipsinfo has recommended the stock of Kotak Bank to buy above Rs 500 for the target price of Rs 510-520 with a stop loss at Rs 497. This has been suggested for cash intraday.

The website, Technicalanalysisofstocks, has recommended the stock of A2ZMES for the hammer pattern formed near minor top. The target price is Rs 335 and the stop loss is Rs 304.

Rajesh Jain, EVP & Head - Retail Research, Religare Securities, suggested the following stocks in Economic Times:

Biocon: Here the recommendation on the stock is buy on its breakoout with a target price of Rs 420 and stop loss at Rs 360. The stock has formed a symmetric triangle on the daily chart. It has now given a break out. It has also taken support from its 200-EMA at around 354 levels and given a good bounce back, which also is a positive signal for the stock.

Mundra Port: Here too the recommendation is buy on bullish signal with a target price of Rs 172, and a stop loss at Rs 152. On weekly charts, the stock has taken support from its 200-EMA at around 140 levels. It has also tested its support of its trendline from the bottom and given a breakout from the consolidation zone of 152-158 levels in the past six sessions. One may go long between 156 and 158 levels.

Power Finance Corp: Here the recommendation is to buy the stock on breakout with a target price of Rs 231 and a stop loss at Rs 207. The stock rallied sharply from its lower levels around Rs 168 and on weekly charts it has broken out above a down trendline as well. It has crossed its short-term moving averages and once 221-levels can be crossed, it may show better recovery.


Sintex: The recommendation to buy here is based on momentum. The target price is Rs 215 with stop loss at Rs 176. The stock has formed an inverted head & shoulder on the daily chart and is trading close to its neckline. It is also trading close to its declining trendline from the top. Once the stock moves above 185 levels it can show good momentum and can reach higher levels towards 215 levels.

FirstPost have the following stocks on their watch-list: Andhra Bank, Shree Renuka Sugar, ITC, Hero Honda, IDFC, Hotel Leela, Exide, Bank of Baroda and Allahabad Bank.

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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.

Story first published: Wednesday, July 20, 2011, 8:45 [IST]
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