Stock Tips for Aug 23, 2011: Buy Mphasis and Petronet LNG

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Stock Tips for Aug 23, 2011
Today's tips covering the stocks traded at Bombay Stock Exchange include Mphasis, Petronet LPG and many more. These stock tips were suggested by experts which can used to book profit via trading.

The website, technicalanalysisofstocks, has recommended the stock of Mphasis with a stop loss to be placed at Rs 306 and a target price of Rs 405. The two major trend was: The stock 13 days moving average curve crossed and RSI curve also crossed oversold zone.

AK Prabhakar, Senior VP, Anand Rathi Securities recommends the following stocks in Economic Times.

Petronet LNG: The recommendation is to buy the stock with a target price of Rs 186 and stop loss at Rs 166. The stock has made a falling channel after steep rise and Rs 182 above would be a major break-out for the stock. The stock still has positive bias and any fresh move can see Rs 200 cross comfortably and it trades above 100DMA Rs 144 & 200DMA Rs 132 still maintaining bullishness.

BEML: The recommendation is to buy with a target price of Rs 461 and stop loss set at Rs 426. The stock has seen highest volume in 57 trading days and the stock is up over 5% after 4 months of correction from high of Rs 770 to low of Rs 411 for which 23.6% pullback till Rs 496 could be possible in short term in this oversold stock.

Punj Lloyd: The recommendation here is to buy the stock with a target price set at Rs 62 and a stop loss at Rs 54. The stock has made irregular bottom with Rs 52 in May 2011 and Rs 53 now there is good buying interest seen on positive news flow from Libya and the stock has closed highest in last 5 trading days and now 100DMA Rs 67 may act as resistance, going forward.

Corporation Bank: For this stock the recommendation is to sell with a target price of Rs 388 and a stop loss at Rs 438. The stock has closed lowest in 86 weeks and failed to cross break-down level of Rs 475, stock has already corrected 16% in the month so far and heading towards derivative settlement bull unwinding would lead to more sell-off. The stock trades below all major averages.

Infosys: Here the recommendation is sell with a target price of Rs 2014 and a stop loss at Rs 2314. The stock has made four consecutive Gap-down on August 19 (Rs 2343-2274) and on a positive day also stock corrected and closed at lowest in 452 trading days and in August alone, the stock has lost 21% suggesting recovery would be ahead of the derivative settlement.

Firstpost recommends the following stocks.
ONGC (Sell below Rs 284, target of Rs 275)
Bank of India (Sell below Rs 300, Rs 285)
HDFC Bank (Sell below Rs 450, target of Rs 430)

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Story first published: Tuesday, August 23, 2011, 8:56 [IST]
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