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Stock Tips for Sept 8, 2011: Buy ICICI Bank and NTPC


Stock Tips for Sept 8, 2011
The recommendation by Analysts include some of leaders of their respective sectors. ICICI bank is the largest private bank in the country. NTPC command the major share of the mathermal power in the country. And Asian paints is the lasrgest paint company in the country.

Sharetipsinfo has recommended to buy the stock of ICICI Bank above Rs 895 for the target price of Rs 915 and a stop loss at Rs 888.

The website, Technicalanalysisofstocks has placed a recommendation of buy on NTPC. The target price for the stock is Rs 173 and a stop loss of Rs 162.

Amit Trivedi, KR Choksey Shares and Securities, IIFL recommends the following stock in Economic Times.

Bombay Dyeing: Here the recommendation is buy with a target price of Rs 340 and a stop loss at Rs 314. Bullish candle witnessed positive breakout out of the trading range of Rs 321 - 290 on comparatively higher volume.

India Cement: There is a buy recommendation on this stock with a target price of Rs 79 and stop loss at Rs 69. The stock has witnessed a breakout of the bottom triangle formation on comparatively higher volumes, indicating possible minor trend reversal towards upside.

EMCO: Buy this stock with a target of Rs 54 and stop loss at Rs 45.90. Slanting line drawn from the peaks of Rs 71.5 - 55.7 has been surpassed forming bullish candle and closing above 21 DEMA & 50 DMA levels. Momentum oscillators are sloping upwards. Prices are expected to retest its recent peak levels around Rs 54 in near short term.

Asian Paints: Trivedi recommends a sell on this stock with a target price of Rs 3,080 and a stop loss at Rs 3,330. The stock has formed bearish candle closing below 21 DEMA. Forming multiple resistance around Rs 3330-3350, the stock prices are expected to correct till the level of Rs 3080 - 3050 levels in near short term.


Dish TV: Here too, the recommendation is to sell the stock with a target price of Rs 75 and a stop loss at Rs 85. Breaking the medium-term support, the stock has been consolidating with corrective bias below 50 DMA levels. Daily momentum indicators are sloping downwards, suggesting trading outlook for the stock remains corrective.

Firstpost, recommends stock based on technical analysis and events.

Apollo Tyres: Sell the stock below Rs 62.25, for the target of Rs 59. Apollo Tyres has been rising over the last one week, but the rise has been on reducing volumes. A correction in the market can push the stock down more than the market.

ICICI Bank: This stock has a recommendation of sell below Rs 890, target of Rs 875. ICICI Bank was one of the few banking stocks that did not take part in the overall bullish sentiment in the banking stocks. The bank closed near the low of the day and can see some selling pressure going forward. Not too many market participant seem to be impressed by the banks teaser loans.

Indian Hotels: For this hospitality stock the recommendation is buy above Rs 74.55, and target of Rs 77. Indian Hotels have attempted to cross the previous high of Rs 74.50 but has failed to do so. The attempt has been made on average volumes. Higher momentum can see the stock move above the previous high.

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.

Story first published: Thursday, September 8, 2011, 8:48 [IST]
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