9 stocks to watch out for today

The 9 stocks below are the picks for the day across small-, mid- and large-cap companies that offer a wide array of choices to retail as well as long-term investors.

Tata Motors DVR have not participated in the recent market rally, it did not even follow the movement in Tata Motors. Though the stock tried moving up on Wednesday, selling resulted in the share closing lower. Tata Motor DVR closed Wednesday at Rs 542, higher by 1.72%. Tata Motors DVR trades at 54% of the value of Tata Motors, the highest over the recent past. This gap can narrow as Tata Motors DVR moves up. The stock has been consolidating at Rs 535 levels and can move to Rs 560 levels. View Chart

[caption id=“attachment_33838” align=“alignleft” width=“380” caption=“Tata Motors. Reuters”]  [/caption]

JP Associates have seen selling pressure over the last two days, despite a strong move in the market. The counter has however, taken support at Rs 77.50 levels. Technically the chart looks weak and if this Rs 77.50 level is broken it can go down to Rs 72. View Chart

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A sharp move in the overnight ADR market led to a firm opening in Dr. Reddy’s Lab. The stock touched a high at Rs 1,565.75 but closed lower at Rs 1,548. If Wednesday’s low of Rs 1,545 is broken the stock can go down to Rs 1,500. View Chart

We had given a sell call on Reliance Communications below Rs 94.10 on Tuesday which was not triggered. The stock, on Wednesday, touched a low of Rs 94.10, the same it did on Tuesday, thus not getting us in on the sell side. We would continue with our sell call as the stock still looks bearish. Our target of the stock is Rs 86. View Chart

Our sell call onAdani Power below Rs 109.80 was triggered on Tuesday. On Wednesday the stock touched a low of Rs 109.75 on Wednesday and closed the day at Rs 110. We maintain our target of Rs 106 for the stock. View Chart

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DLF was a sell call below Rs 213.60 with a target of Rs 206 which was triggered on Tuesday. The stock touched a low of Rs 207.65 and closed at Rs 208.80 on Wednesday. We maintain our target of Rs 206. View Chart

GAIL was also a sell call which was triggered on Tuesday below Rs 453.30 with a target of Rs 435. The stock touched a low of Rs 437.30 and closed at Rs 442 on Wednesday. We continue with our target of Rs 435 on the stock. View Chart

Our sell call onMRPL was triggered below Rs 76.50 on Tuesday. The stock touched a low of Rs 75.7 on Wednesday, the same as Tuesday. We maintain our sell call on the company with the same target of Rs 72. View Chart

ONGC was also triggered on the sell side below Rs 283 on Tuesday. The stock touched a low of Rs 276.70 and closed higher at Rs 278.5 on Wednesday. We continue with our bearish outlook on the stock and maintain the price of Rs 270 on the stock. View Chart

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