Technical calls: Buy Allahabad Bank, Havells

Here are your intra day picks for the day from various market experts and brokerage houses:

Manas Jaiswal, manasjaiswal.com, has two buy calls for the day. The first one is Allahabad Bank which has shown signs of reversal from the past downward trend. So we may see a sharp up move and the stock can test Rs 145 in next 1-2 trading sessions. One can buy the stock at current levels with a stop loss of Rs 135.

The other buy call of the day is Orbit Corporation which has made a hammer pattern on the daily charts which is a bullish sign. So, now, we may see a recovery and stock can test Rs 51 in next 1-2 trading sessions. One can buy the stock at current levels with a stop loss of Rs 45.

Reuters

Rajesh Jain of Religare Securities also has two buy calls. His first pick is Idea Cellular. After a sharp correction from 5350 levels to 5080 levels, markets have become oversold and can now retrace. In such a scenario, one can buy Idea Cellular at current price keeping a closing stop loss of Rs 76 for target of Rs 85 in the coming days

After a strong rally for many days, Havells India is now correcting for the past 3 sessions and has retraced near to its support zone. One can buy the stock around Rs 590 keeping a stop loss of closing below Rs 585 for the target of Rs 610 plus in coming days.

First pick of the day for Rakesh Gandhi, LKP, is HCL Technologies which has been trading between Rs 560 and Rs 520 in the last five months. After the result, it has seen a 7% rally on good volumes. From here, if the stock manages to close above Rs 520, which seems likely based on the charts perspective, the momentum would further pick up and stock could see levels of Rs 600 and hence can be bought with a stop loss at Rs 490.

Second buy call for the day is MRF which has been consolidating above Rs 9800 since the month of April. On Wednesday, the stock hit Rs 10300 on huge volumes. If the stock breaks out above this level, there could be a move above a symmetrical triangle formation and hence the stock can be bought above that level for a target of Rs 11000 with a stop loss at Rs 9900.

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


Published Date: Jul 26, 2012 12:19 pm | Updated Date: Dec 20, 2014 06:56 pm


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