Hot stocks and tips for today 24 June 2011

PUNJAB NATIONAL BANK
R2: 1052.07
R1: 1046.18
PP: 1040.22
S1: 1034.33
S2: 1028.37

TECHNICAL OVERVIEW
The scrip is trading sideways and showing momentum strength above 1048. It is now trading at 1040.30; from this level further upside of movement would be expected. In order to be in a downward trend it has to trade and consolidate above the 10 days and 50 days moving averages. One can go for long position in it at 1048 for the target of 1075.

ONGC
R2: 274.85
R1: 269.75
PP: 264
S1: 258.9
S2: 253.15

TECHNICAL OVERVIEW
ONGC was trading in a short term upward trend and it is now trading at 264.65, in today's trading session it made a high of 269, from this level further upside of movement would be expected. The stock may reach to the level of 285 in the coming trading session. The stock has a resistance level of 270 .It is looking bullish in the coming trading session; one can go for long position in it at 269 for the target of 285.
 
LARSEN & TURBO
R2: 1698.37
R1: 1683.23
PP: 1661.62
S1: 1646.48
S2: 1624.87

TECHNICAL OVERVIEW
L&T showed positive biasness today and traded in tight range. The stock has resistance level at 1680 and support level at 1623. In short term it is expected to consolidate with positive biasness and may test its resistance level.