All the recommendations are based on technical analysis with the exception of BPCL, Coal India and Cipla; these stocks are event driven suggestions for today. They can even play out over a period of 2-3 months.
The website, technicalanalysisofstocks, has recommended buy on the stock A2ZMES. There is a minor bottom formation on the trend charts for the stock.
Amit Harchekar CMT, IIFL Private Client Group, IIFL has recommended the following stock in Economic Times.
HDFC Bank: Harchekar has recommended a buy here with a target price of Rs 480 and a stop loss at Rs 448. HDFC Bank has been trading near its important support of 200 DMA which could turn out as make or break levels. Appearance of 'falling wedge' on the daily line chart signals bullish formation. However, real positive impact may be felt only on opening above Rs 460.
NTPC: The recommendation here for this stock is to buy for the target price of Rs 190 and a stop loss at Rs 165. After hitting an interim peak of Rs 179 in past few weeks, NTPC has been consolidating in the range of Rs 168-174 which can be construed as wave 2 retracement after an impulse up move. As long the stock sustains above Rs 165, short-term trend remains positive.
DLF: For this real estate company the recommendation is to sell with a target price of Rs 170 and a stop loss at Rs 188. DLF has pierced below its key support levels with no signs of bottoming out despite being in the oversold terrain. The daily RSI has been struggling to move above its 9 DMA and breakdown below Rs 185 will open up scope for further downside towards Rs 150 in the near term.
HDFC: Here also Harchekar has recommended a sell with a target price of Rs 615 and a stop loss at Rs 660. The rising support on the weekly basis was violated in the previous week turning the near-term trend extremely negative. This move also corroborates breakdown from 'head and shoulder' top pattern and the stock could come under sever selling pressure below Rs 640.
Indian Hotels: There is buy suggestion for this stock with a target price of Rs 85 and a stop loss at Rs 68. The stock has given strong reversal after hitting an intermediate bottom of Rs 66 in the previous week. The short-term momentum remains very strong as confirmed by RSI crossovers along with expanding volumes during price up ticks.
First post has recommended the stock
BPCL (Sell below Rs 684, target of Rs 675)
With reports of a hurricane approaching US there are chances that oil prices will rise. Historically the trend has been an increase in price of oil after hurricane. This will increase the losses for oil marketing companies in India
Coal India (Buy above Rs 394.70, target of Rs 405)
Managment has indicated that if necessary the company will increase price and protect its margins. This is good news for the stock holders.
CIPLA (Sell below Rs 280.70, target of Rs 275)
A US court has said that Cipla"s product PetArmor is infringing Merial"s patent of Frontline plus. Analyst reports stating the impact of withdrawal on Cipla"s financial can be expected over the next few days, which can have a further impact on the stock.
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