STOCK TIPS

STOCK TIPS, STOCK TIPS FOR TODAY, INTRADAY TIPS

rading ideas (Time period: 1-3 days)

REC (BUY Between Rs203-204, Target Rs216): After hitting an intermediate peak of Rs270 in April 2011, REC has went through correction of nearly 25% without any significant pullback. The decline has landed stock price to multiple support zone placed at Rs202-206 and MACD has generated fresh buy signal at current levels. The daily RSI has been trading in extremely oversold terrain and volumes have also started to move up along the stock price. The five impulse waves down are now clearly visible which also indicate it should be followed with correct waves a,b,c, thus providing with immediate target of Rs245 on 61.8% rertracement. We advise buying stock in the range of Rs203-204 with stop loss of Rs198 for Target of Rs216. (Duration 7 days).

Ambuja Cement (SELL, below Rs130, Target Rs123): On the daily chart, Ambuja Cement fell below the support of its 100-DMA and 200-DMA on Friday’s trading session, suggesting that the likelihood of further upside over the short-term has diminished. For now, the risk/return of establishing long positions is less than ideal. On several occasions in last two weeks, the stock had bounced back from its 200-DMA. However, it closed below the important moving average. Moreover, appearance of falling tops signifies the bulls inability to form higher highs. Based on above mentioned technical evidences, we recommend traders to short Ambuja Cement May Futures below Rs130 with stop loss of Rs133 for target of Rs123... ....................CLICK HERE TO SEE MORE