Here are your intra day picks for the day from various market experts and brokerage houses :
Parag Doctor, Head— Trading Strategies, Keynote Capital, has one buy and one sell call. He recommends buying Colgate Palmolive, a low beta defensive stock, with a target of Rs 1,200 and a stop loss of Rs 1,135 per share. The stock has had a 10 percent correction from the Rs 1,250 levels to Rs 1,125, where it bottomed out and has now started an immediate uptrend.
However he says that investors can sell SAIL as the stock has started an immediate downtrend and is struggling to cross the 200 day moving average which is around Rs 97. The stock is expected to fall to around Rs 86 levels which was the recent support. Investors can sell the stock with a stop loss of Rs 95.
Manas Jaiwal of manasjaiswal.com, says investors can short two stocks. The first stock on his list is Chambal Fertilisers as it faced a lot of resistance near to Rs 79 and fell sharply with higher volumes. Also, on the daily chart, it has made a bearish engulfing pattern. According to him, one can see further weakness in the stock and it can test Rs 70 in the next 1-2 trading sessions. One can short the stock with a stop loss of Rs 76.5 per share.
The second stock to short is Patel Engineering. After trending in the range of Rs 90-Rs 94 for the last four to five trading sessions, it broke this range yesterday. There is further weakness in this stock and it can test Rs 83 in the next 3-4 trading sessions. Investors can short the stock with a stop loss of Rs 91 per share.
Arunesh Madan of Augment Investment, has two sell calls. The first stock to sell is Reliance Infrastructure as the stock is showing a bearish pattern on the daily candlestick charts. He has a sell call in the range of Rs 500- Rs 505 with a stop loss being placed above Rs 518 levels. Investors can look for a target of Rs 475 in the coming days.
The second stock to sell is Jubilant Foodworks in the range of Rs 1,235 to Rs 1,240 with a stop loss being placed above Rs 1,270 levels on a closing basis. According to him , the sea wave to the down side has started and investors can look for a target of Rs 1,130 and Rs 1,075 in the coming days.
Disclaimer: Views expressed above are that of various market experts only and Firstpost will not be held responsible for any investment decision based on the above recommendations.