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Stock Tips for Sept 16, 2011: Buy Havells


Stock Tips for Sept 16, 2011: Buy Havells
The recommendations given below are by technical analysts'. These recommendations include Havell, a multi-product electric engineering and manufacturing company along with many others companies from which traders can profit.

Sharetipsinfo has recommended the stock of Havells. Buy the stock above Rs 364 for a target of Rs 370 and a stop loss at Rs 360.


There is a buy recommendation for the stock of Aanjaneya for the target price of Rs 406 and a stop loss of Rs 445. There is a Doji formation near Minor Bottom.

Rajesh Manial, AVP - technical research, GEPL Capital, has recommended the following stock in Economic Times.

Larsen & Toubro: The recommendation is to sell this stock with a target price of Rs 1,235 and a stop loss Rs 1,790. L&T has been tracing out a head & shoulder since July 2009 and is in the process of completing its right shoulder. This pattern along with the fact that there are a couple of nested impulse waves on the downside since its Nov 2010 peak implies a severe downside risk in medium term.

BPCL: There is a buy recommendation on this stock with a target price of Rs 710 and a stop loss of Rs 654. Though this stock has seen sideways correction, it recently took support near its 200-day EMA and an important low swing and has registered a bounce-back thereafter. The momentum oscillators on the daily as well as weekly charts are suggesting further upsides in the immediate term.

Cipla: Here too the recommendation is a sell with a target price of Rs 250 and a stop loss at Rs 313. Cipla has registered a breakdown of head & shoulder pattern on the weekly chart, which indicates further downside. Any upsides may face stiff resistance near the neckline placed around 300.


Bata India: Sell this recommendation with a target price of Rs 572 and a stop loss of Rs 720. The upside momentum appears to be waning lately as reflected by the negative divergence registered by RSI on the daily chart. It has also given a breakdown below the demand line of a trend channel on the daily chart which may have bearish implications once it trades below 645.

PFC: For this stock, the recommendation is buy with a target price of Rs 169 and a stop loss Rs 145. After a severe sell off from its peak in October 2010, PFC has taken support near the 78.6% Fibonacci retracement level of a major uptrend since its 2008 lows. The daily RSI has been diverging positively against the price since some time which indicates further upsides. 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: Friday, September 16, 2011, 8:48 [IST]
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