 "9 stocks to watch out for today")
The 9 stocks below are the top 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.
Balrampur Chini is close to its support of Rs 60, but has been declining over the past two days on good volume. The company is expected to announce its results on Friday, which going by the current trend can help in breaking this support level. If this level of Rs 60 is broken the stock can come down to Rs 56.5.
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Jet Airways, has seen selling over the last two days in anticipation of a poor set of numbers to be announced on Friday. The stock can come down to its previous support of Rs 471 if the low of Thursday of Rs 485.40 is broken.
ICICI Bank has bounced back from its previous low of Rs 1037 and closed at Rs 1041 on Thursday. The stock witnessed selling through out Thruday and if the low of Rs 1037 is broken due to this selling the stock can touch Rs 1000.
India Cement has taken support at Rs 71.10 for the fourth time in the last two weeks. The stock has formed a weak pattern which can result in a slide to Rs 67.50 if this support is broken.
PTC has been trading in a very narrow band over the last one week. It has held on to its level of Rs 82 on increasing volume. If the stock is able to cross the range high of Rs 84.20 it can touch Rs 90.
Impact Shorts
More ShortsPunj Lloyd is showing signs of weakness as it approaches its support level of Rs 72.75. The stock, if it breaks this support level can touch Rs 69.
National Aluminiumwas a sell call below Rs 80 and a price target of Rs 75. The stock plunged to a low of Rs 79.20 on Thursday and closed the day at Rs 80.60. We continue with our sell call and price target.
Educompwas a sell call below Rs 380 and a target of Rs 360. The stock dived to Rs 373.15 and closed at Rs 375.30 on Thursday. We maintain our target of Rs 360 for the stock.
ITCwas triggered on the long side above our entry price of Rs 207.35 on Tuesday. The stock scaled a high of Rs 207.80 and closed the day at Rs 206.90. We maintain our target of Rs 215 for the stock.
“Neither the author of this post nor his immediate family members has a stake/share in the above-mentioned shares/mutual funds.”
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