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Stock Tips for today, July 22, 2011: Buy Everonn


Stock Tips for today, July 22, 2011: Buy Everonn
For the last trading day of the week, experts have suggested a mix of stock which includes Everonn, SKS Microfinance, APIL, Reliance capital, Suzlon and Orchid Chemical.

Sharetipsinfo has suggested to buy Everonn with buy call when it is above Rs 555 with a target price of Rs 570-585 and a stop loss at Rs 545.


The website, technicalanalysisofstocks, recommends a buy on the stock of SKS Microfinance with the target price of Rs 600 and a stop loss at Rs 485. The scrip has crossed the double tops with very high volume.

Ranak Merchant, Technical Analyst - Strategies, Sushil Fin Services, suggested the following stocks in Economic Times

Allahabad Bank: The buy recommendation on this stock is for its bullish signal. The target price for the stock is Rs 225 and stop loss is Rs 201. The recent upmove has seen Allahabad Bank scale above its 200-day EMA and is currently consolidating above the same. Weekly charts suggest a formation of a W pattern (bullish). A positive crossover of momentum indicators supports the view.

Alstom Projects India: Here too the suggestion is to buy the stock for its upmove signal and the target price for the stock is Rs 615 meanwhile stop loss is at Rs 560. The recent rally in APIL saw it briefly conquer its 200-day EMA of Rs 596, and form a double-top near Rs 615 levels. The bullish stance, however, remains true as it bounces off from Fibonacci support levels. The bullish view is supported by oscillators on weekly charts.

Reliance Capital: There suggestion for this stock is to buy because of the breakout signal with target price of Rs 621 and a stop loss at Rs 570. Post the recent run-up the stock is consolidating just below its 200-day EMA and faces stern resistance at the same. Momentum oscillators, however, suggest that a breakout is on the cards. A breakout would enable the stock to retrace 50% of its fall of October 2010 to February 2011.


Suzlon: Merchant recommends a buy on this stock for its crossover with a target price of Rs 58 and a stop loss at Rs 51. Weekly charts exhibit an inverse head & shoulder pattern, with the neckline placed at Rs 52, also its 2000-day EMA. The stock has already broken above its neckline, and is now on course to attain the pattern target of 58. The momentum oscillators are indicating a positive crossover.

Orchid Chem: Here the recommendation is sell for the down-move made by the stock with a target price of Rs 215 and a stop loss at Rs 236. Post a break below its 200-day EMA, Orchid Chemical is showing rounding top and lower tops, lower-bottoms formation. Weakness in oscillators also show the down-move to gain momentum. Current crack in the price is likely to take the price towards calendar year 2011 low of 215.

Meanwhile, Firstpost says that the following stocks should be tracked for the day: Balrampur Chini, Jet Airways, ICICI Bank, India Cements, PTC, Punj Lloyd, National Aluminium, Educomp and ITC.

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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: Friday, July 22, 2011, 8:30 [IST]
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