Here are your intra day picks for the day from various market experts and brokerage houses:
Vishal Malkan, CMT, has both buy calls. The first pick is Cummins India which has given a huge move on Thursday with good volumes. The momentum has entered the bullish zone. He recommends a buy with a stoploss of Rs 462 for targets of Rs 475 and Rs 480.
IVRCL has moved up from the daily supports. Hourly momentum is looking good. He recommends a buy with a stop-loss of Rs 45 for targets of Rs 47.50 and Rs 48.25.
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Vishal Kshatriya, Edelweiss is going short on Tata Motors. The stock has strong resistance in a range of Rs 228 to Rs 230. On Thursday, after hitting a high of Rs 227, it corrected sharply along with good volume.
This clearly indicates that there is a supply in the stock at higher levels. He recommends traders to go short in the range of Rs 225 to Rs 226 with a target price of Rs 215, maintain stop loss at Rs 232.
His second pick for the day is going long on Strides Arcolab. Overall trend in the counter is positive which is depicted by formation of higher tops and bottoms on its daily as well as weekly charts.
On Thursday, the stock has given a declining trendline breakout that too along with good volumes. He recommends traders to go long in a range of Rs 730-735 with target price of Rs 770 maintaining stop loss at Rs 710.
Sanjeev Agarwal, Dynamix Research & Capital Management, is bullish on Godrej Industries which has broken above its very strong resistance of Rs 250 and we can expect a price target of Rs 260-264 and we can keep a stop loss below Rs 244.
IVRCL has been showing a fantastic bottoming out pattern and we can buy it at current market price or any decline towards Rs 44-45 with a stop loss below Rs 42 for a target of Rs 50-52.
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
