Here are your intra day picks for the day from various market experts and brokerage houses:
Vishal Malkan, CMT has both buy calls for the day. The first pick is Grasim Industries which has shown some good momentum on hourly charts. The sector is already outperforming. He recommends a buy with a stop loss of Rs 2680 for target of Rs 2725 and Rs 2740.
Dynamix Research & Capital Management also has a buy call on Grasim. Cement pack has been showing very good strength for last few days and Grasim is no exception. We can buy Grasim at current market price for a target of Rs 2750 to Rs 2790 with a stop loss below Rs 2660.
The second buy call is Tata Steel. It has formed a bullish candlestick pattern on daily charts. Hourly momentum is bullish with huge volumes. He recommends a buy with a stop loss of Rs 395 for targets of Rs 405 and 408.
Vishal Kshatriya, Edelweiss has two short calls. The first short call of the day is Axis Bank. Stock has broken from its upward trend and has good volumes on daily charts. He expects stock to test Rs 950 in days to come and hence short term traders can short in a range of Rs 995 to Rs 1005 with target of Rs 950, maintaining stop loss above Rs 1030.
Short Kotak Mahindra Bank . Stock has also broken from its past upward trend with good volumes on its daily charts. Besides this stock continue to trade below a short-term moving averages, which clearly indicates a negative trend in the counter. Analysis of open interest data indicates a short trend in the previous trading sessions. He recommends traders to go short in a range of Rs 535-540 with target of Rs 510 and stop loss above Rs 555 Sanjeev Agarwal.
The second pick is also a buy call on Sesa Goa. We can buy this stock at current market price for a target of Rs 189 to 194 and stop loss below Rs 180
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