Daily Stock Trading Tips - June 14

Posted by admin in Mid Term Picks, Trading on Jun 13th, 2010 | no responses

Check out the top five trading stock picks of the day by Sandeep Wagle, Founder & MD, APTART Technical Advisory Services.

Siemens

RECOMMENDATION: BUY
Last Close: Rs 717
Target: Rs 751
Stop Loss: Rs 692
Siemens has given 50-DMA resistance breakout above Rs 704 levels on the daily chart with a good volume. Technical indicators like Stochastic & RSI show the buying strength in this stock. exhibits a ‘buy’ signal.

Adani Power

RECOMMENDATION: BUY
Last Close: Rs 121
Target: Rs 130
Stop Loss: Rs 116
Adani Power has given a trendline breakout on the daily chart with a huge volume. Accumulation was seen in the past 5-trading sessions. MACD exhibits buy signal. Hence, one can go ‘long’ by keeping a stoploss of Rs 116.

Biocon

RECOMMENDATION: BUY
Last Close: Rs 300
Target: Rs 323
Stop Loss: Rs 289
Biocon has given a consolidation breakout at Rs 292. It is trading above all its short and long-term moving averages. Short-term oscillators have given a ‘buy’ signal. Volume in this stock witnesses the buying strength.

Infosys

RECOMMENDATION: SELL
Last Close: Rs 2630
Target: Rs 2516
Stop Loss: Rs 2689
Infosys has given a close below its short-term moving averages on the daily chart. Technical Indicator ADX shows the weakness in this stock. Short term oscillator like stochastic is also negative. One can sell the stock keeping the stop loss of Rs 2,689.

Unitech

RECOMMENDATION: SELL
Last Close: Rs 68
Target: Rs 62
Stop Loss: Rs 72
Unitech is making lower tops & lower bottoms formation on the daily chart. This stock is in strong downtrend so any rise in this stock can be used as a selling opportunity. Technical indicators, like RSI and MACD, are looking weak.

Source: Economic Times

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