Here are your intra day picks for the day from various market experts and brokerage houses:
Vishal Kshatriya, Edelweiss advises going short on Siemens. On Thursday, the stock witnessed aggressive short build up, which has indicated by open interest data. Besides this, stock is trading at the lower end of rising trendline placed on its daily chart. Kshatriya expects stock to generate trendline breakdown in days to come and hence recommends going short in a range of Rs 660 to Rs 665 with target price of Rs 630, maintains stop loss at Rs 680.
His second pick for the day is going long on Coal India. On Thursday stock breached and closed above its resistance along with good volumes. Oscillators on daily chart had given 'buy signal. He expects stock to trade with the positive bias in days to come. He recommends going long at current market price with target price of Rs 370 maintaining stop loss at Rs 348.
Rajesh Jain, Religaire Securities after testing support zone of Rs 1,300 levels and long-term averages on daily chart Larsen and Toubro rebounded quite strongly from that zone and now it is likely to witness a fresh break from the resistance area of Rs 1,430 levels. One may buy the stock at any dip between Rs 1,400 and Rs 1,410 levels keeping a closing stop loss of Rs 1,395 for higher target of Rs 1,450.
Aban Offshore has formed a head and shoulder pattern on the intraday chart and the stock may witness a breakdown from the same in the short-term. On Wednesday also, the stock had formed an inverted hammer on the daily chart, which is negative. One may go short in the stock around Rs 394-396 levels keeping a closing stop loss of Rs 400 for target of Rs 382.
Rakesh Gandhi, LKP says Century Textiles yesterday, had breached a falling trendline joining a series of top of last four months. Further 50 days moving average has also crossed 100 days moving average and there was a rising volumes seen yesterday. He believes that stock would see higher levels and hence it can be bought for a target of Rs 340 with a stop loss of Rs 305.
MTNL has been in a very much sideways trend since last more than a year and in this period it has formed a double bottom formation and the neckline for this double bottom formation is at Rs 32 level. Now the stock is sustaining above that Rs 32 levels and based on long-term chart pattern, it could see levels of Rs 45 or maybe upto Rs 48 also in a long-term six-twelve months down the line. But for a very short-term one can buy this stock for a target of Rs 36.5 with a stop loss of Rs 31.
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