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Stock Tips for Sept 30, 2011: Buy Mphasis and Kiri Industries


Stock Tips for Sept 30, 2011
The recommendations by analysts are based on technical analysis. Some of the stocks are also recommended based on news events. In all there is a wide set of industry that has been covered under the recommendations.

Sharetipsinfo has recommended to buy the stock of Mphasis above Rs 350 and stop loss at Rs 346.

The website, Technicalanalysisofstocks, has recommended to buy the stock of Kiri Industries with target price of Rs 150 and stop loss at Rs 119.

Amit Chheda, Head - Equity, Inventure Growth and Securities has recommended the following stocks in Eeconomic Times.

IOB: There is a buy recommendation here with the target price of Rs 102 and stop loss at Rs 91. IOB has seen significant correction recently from around 148 levels. However, it has now taken support at its Fibonacci retracement level at around 92-93. Further on daily charts, it has shown rise in volumes suggesting buying.

Ranbaxy: For this pharmaceutical company there is a sell recommendation with the target price of Rs 485 and stop loss at Rs 509.80. Ranbaxy earlier had supports around 510. However, once this level was broken, the stock has faced resistance at it on September 9, 2011. It has again faced selling pressure at this level and has given a bearish reversal candle pattern.

Suzlon: For this company also there is a buy recommendation with the target price of Rs 41.20 and stop loss at Rs 36. Suzlon has recently made historic double-bottoms near 33 levels. Earlier, it had made a bottom around these levels in March 2009. Double-bottoms are strong bullish reversal patterns. The stock is expected to see buying interest from long term investors.

Chambal Fertilizer: For this fertilizer company there is buy recommendation with target price of Rs 105 and stop loss at Rs 91. Chambal Fertlizer has taken support at its 50% major retracement level of the range 70 to 118. In technical parlance, an uptrending stock becomes an attractive trading bet at its 50% retracement. Further, the stock has also given a hammer candle pattern, which suggests bullish reversal.


Bajaj Auto: For this two-wheeler company too there is a buy recommendation with target price of Rs 1,601 and stop loss at Rs 1,490. Bajaj Auto is in an uptrend. The recent correction in the stock creates a buying opportunity. The stock has givena bullish engulfing pattern on daily charts, which suggests halt of the downtrend and reversal from here.

Firstpost has given the following recommendations for investors.

Reliance Capital: Sell this stock when it is below Rs 355, for the target of Rs 340. After closing of market hours news flashed that CBI will look into Anil Ambani’s role in the 2G scam. Perception of repercussion of the inquiry will see selling pressure in all ADAG group stocks. Reliance Capital being the flaship can see the brunt of the bear attack.

GVK Power: On this company the recommendation is to buy above Rs 16, with the target of Rs 17.50. GVK Power has announced that it has bagged a 332 kms order for Shivpuri Dewas section of the Mumbai Agra (NH3) highway. The company has been languishing near its year’s low.

Bata: This stock has a buy recommendation above Rs 640, target of Rs 655. Bata has rebounded strongly from its previous close. The stock has been trading near its high and rebounds strongly in line with the market. Bata can rebound back strongly in case of a market bounce back.

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 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 30, 2011, 8:41 [IST]
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