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Stock Tips for today, Aug 11, 2011: Buy Gravita & Lupin


Stock Tips for today, Aug 11, 2011: Buy Gravita & Lupin
We bring to you the target price and stop loss for stocks such as Gravita, Lupin, Idea, Ranbaxy etc as stock market volatility makes it important that all traders follow the rules of stoploss and targets rigorously.

The website, technicalanalysisofstocks, has suggested a buy on Gravita. The target price is Rs 356 and a stop loss is Rs 320. The trend signal used to arrive at this decision is 13 days moving average crossed.

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

Lupin: There is a buy recommendation on this stock with the target price of Rs 484 and a stop loss at Rs 449. Lupin has seen a strong rally, after testing its 200-DEMA support at Rs 428. It managed to close the bearish gap of the previous week and is trading above its 21 and 50 DEMAs. With short-term momentum oscillators rolling bullish, we recommend to trade on the long side.

Idea: For this telecom stock the recommendation is buy with a target price of Rs 98 and a stop loss at Rs 90. The stock price of Idea Cellular is in an intermediate-term uptrend. It is currently going through consolidation and should hold on to the 21-DEMA support at Rs 90. Daily RSI is trading at Rs 60, which indicates a good entry point in an upward moving stock.

Ranbaxy: For this stock the recommendation is sell. The target price for the stock is 473 and a stop loss at Rs 510. Ranbaxy has given a breakdown of a rising wedge pattern on the daily chart. The stock will retrace 61.8% of the rally from May to July. Momentum oscillator MACD has triggered sell crossover and is in negative territory. Sell on rally towards Rs 500 with above mentioned levels.


Hindalco: Here too the recommendation is buy with a target price of Rs 178 and a stop loss Rs 150. The share price of Hindalco is exiting intermediate downtrend on high volumes. Previous two sessions have seen selling climax on high volumes and the subsequent reversal. Daily RSI has rolled over above the signal line indicating bullish crossover.

GAIL: Mehta has recommended to sell this stock too with a target price of Rs 412 and Rs 447. Gail has been in strong sideways trend . The stock price is facing continuous rejection from 200 DMA levels and is now heading towards the lower band of the consolidation level. Daily RSI has been in bearish territory and have generated lower readings suggesting further weakness.

Firstpost has recommended the following stocks.

ACC Cements ( Buy below Rs 1,015, target Rs 1,050)

Kingfisher (Sell below Rs 31.55, target Rs 28)

GE Shipping (Sell below Rs 234, target Rs 225)

Your feedback is valuable to us. If you have an opinion, a question or would like to share your thoughts on stocks, investments, business policy or companies mail at money(at)oneindia(dot)co(dot)in or at md.shoaib(at)oneindia(dot)co(dot)in DISCLAIMER: GoodReturns 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. GoodReturns does not take any responsibility for any losses incurred by investors who take their cues from the above article.

Read more about: recession bse stock tips nse sensex nifty
Story first published: Thursday, August 11, 2011, 8:33 [IST]
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