Intraday Stock Tips 17 August 2011
The
stocks below are the top picks for the day that offer a wide
array of choices to retail as well as long-term investors.
1. Aban Offshore Sell below Rs 380.50, Target of Rs 360.
Aban
has been falling since announcement of its results. The company is
sitting with unutilised rigs and the current low rig rates do not
augur well for its future. Selling is likely to continue in the stock
if Rs 380.50 is broken.
2. Aditya Birla Nuvo Sell below Rs
870, Target Rs 850.
Strong results announced over the weekend
resulted in a brief euphoria in Aditya Birla Nuvo. The stock moved up
sharply in the opening hours, but ended up near the low of the day at
Rs 870.25. The stock has taken support near the Rs 870 levels, from
where it has bounced back twice over the last week. A fall below this
level can take it down to Rs 850.
3. Cairn has been
closing near the highs of the day over the past four days.
Cairn Buy above Rs 283, target Rs 300.
Despite
the fall in the market, Cairn has been closing near the highs of the
day over the past four days. The stock has seen some selling pressure
at Rs 283 over the past four days from where it has reacted
downwards. A move above this selling zone can take the stock to Rs
300 levels.
Source
:- First Post