Here are your intra day picks for the day from various market experts and brokerage houses :
Vishal Kshatriya of Edelweiss, recommends to go long on Dena Bank as the stock has broken out of its key resistance area with good volumes on its daily and weekly charts. The momentum oscillators on the daily charts have also given a fresh buy signal. Investors can go long in the range of Rs 100-102 with a price target of Rs 106 and Rs 108, with a stop loss of Rs 97 per share.
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Reliance Inds is his next pick and he recommends going short on July Futures in the range of Rs 738-742 with a target of Rs 720 and stop loss of Rs 750 per share. The momentum oscillators on the daily charts have given a fresh sell signal.
Sanjeev Agarwal, CEO, Dynamix Research & Capital, has two buy recommendations – Reliance Capital and Sesa Goa. Reliance Capital has given a very strong breakout above Rs 360. Investors can buy it around Rs 360 with a stop loss below Rs 340 for a target of Rs 400 and Rs 440.
The second stock to buy is Sesa Goa around Rs 195 with stop loss below Rs 185 for target of Rs 215-240.
Manas Jaiswal of manasjaiswal.com, also has two buy recommendations – IRB Infra and Tata Communication. IRB Infra is continuously making higher tops and higher bottoms on the daily charts. And on Friday it broke the resistance of Rs 136 with higher volumes. So one can buy the stock at current levels for the target of Rs 144, one can keep the stop loss of Rs 135.
Tata Communication witnessed a V-shape recovery in last 15 days. And on Friday it broke the resistance of Rs 242. The stock can test Rs 252 in next couple of trading sessions. One can buy it with a stop loss of Rs 239.
Sudarshan Sukhani of s2analytics.com says that one can sell Colgate Palmolive. According to him, it is now suggesting a major distribution pattern in the offing like most other fast moving consumer goods (FMCG) stocks. “It is not going to crack today but the idea is that one should be selling it. One should not look to buy it any more”, he told CNBC TV-18. He further added that the patterns could work out much lower on the downside, probably go below Rs 1,000 also.”
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.
