Stock views on Suzlon Energy, Oil India

IIFL  on Oil India - Target Rs 1200:

 

IIFL is bullish on Oil India and has recommended buy rating on the stock with a target of Rs 1200, in its research report.

"Oil India has seen impressive volume expansion in yesterday's trading session and appears to have taken support between Rs 1,120-1,130 range. It could bounce till somewhere between Rs 1,200-1,220 levels in the near term. The bullish formation is confirmed after the stock gave a close above its short-term moving averages. Any move above Rs 1,150 could take the stock towards Rs 1,200 and higher. Traders are advised to buy the stock on declines to Rs 1125 for a target of Rs 1200. Maintain a SL of Rs 1110," says IIFL research report.

 

 

IIFL on Suzlon Energy - Target Rs 77

 

IIFL is bullish on Suzlon Energy and has recommended buy rating on the stock with a target of Rs 77, in its research report.

"Suzlon Energy had been on a strong downtrend for the past few months. Infact, the stock has seen a sharp decline from the levels of Rs83 levels in March 2010 to a low of Rs 66 in the current week. The Daily RSI is exhibiting strong positive divergences, which indicates that the worst is over and that the trend should reverse from the current levels. "

"We expect the stock to witness smart pullback from the current levels. Volumes have shown a smart increase in yesterday's session, which suggests accumulation at lower levels. A bullish candlestick on Thursday further validates our argument of a short-term bounce in the stock. Traders can on declines to the levels of 68 for target of Rs 77. It is advisable to maintain a stop loss of Rs 66," says IIFL research report.