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Stock Tips for today, August 4, 2011: Buy MOIL


Stock Tips for today, August 4, 2011: Buy MOIL
Today's stock tips include the name of MOIL, Glenmark pharmaceuticals, RCF and many more. Considering that with US being saved by a default, it was expected that there will be a rally and this will give opportunity for some people to book their gains.

The website, technicalanalysisofstocks, has suggested to buy the stock of MOIL for a target price of Rs 357 and a stop loss at Rs 322. There is a bullish flag pattern forming on the trendline.

Meanwhile, Sharetipsinfo has suggested to avoid early trade for today.

Amit Trivedi, Technical Analyst, KR Choksey shares and securities, has provided the following suggestion in Economic Times.

Glenmark Pharmaceuticals: The recommendation is buy with a target price of Rs 365 and stop loss Rs 310. The stock has been consolidating with positive bias above 50 & 200 DMA, forming higher tops and higher bottoms since February on the daily chart. Daily momentum oscillators are hovering above equilibrium point and prices are expected to retest January 2011 peak levels around Rs 365.

Rashtriya Chemicals & Fertilizers: Here the recommendation is buy with a target price of Rs 86 and a stop loss at Rs 76. The stock has witnessed a breakout out of bottom triangle formation on comparatively higher volumes, indicating possible short-term trend reversal towards upside to retest its 200 DMA around Rs 87 levels.

Jubilant Foodworks: Here the recommendation is to sell with a target price of Rs 785 and a stop loss at Rs 858. The stock is consolidating with a corrective bias and is also forming a bearish candle on the daily chart. The price has closed below its 50 DMA on comparatively higher volumes. Momentum oscillators are slopingdownwards, indicating the price may retest recent bottom levels .

Grasim Industries: There is sell recommendation on this stock with target price of Rs 2110 and a stop loss at Rs 2256. The stock has been consolidating with corrective bias since April. It has also been forming lower tops and lower bottoms on the daily chart. Trading outlook remains negative as long as the Rs 2,250 level is not taken out on upside.


Tata Consultancy Services: Here the recommendation is sell with the target price of Rs 1055 and a stop loss at Rs 1085. The stock has witnessed a breakdown out of the top triangle chart pattern on the daily chart, indicating possible further correction in near term. Daily momentum indicators are sloping downward. The stock is expected to retest its multi-support zone around Rs 1,055 levels in near term.

Firstpose have recommended the following stocks that should be tracked by investors today: Neyveli Lignite, Reliance Industries, Infosys, Auro Lab, Kotak Bank, Dena Bank, IVRCL Infra, JSW Steel and HOEC.

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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.

Read more about: bse stock tips nse sensex nifty
Story first published: Thursday, August 4, 2011, 9:03 [IST]
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