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.

Pantaloon moved up sharply over the past few days on news of FDI being allowed in multi-brand retail companies. On Wednesday however, the stock witnessed selling on good volume, resulting in the stock closing near the low of the day. It is likely that stock can go down further to Rs 280 if Wednesday’s low of Rs 294 is pierced.

The level of Rs 138 has been tested by Zee for five times over the last eight trading days. It is likely that the level will hold and the stock move to Rs 146 levels.

Hero Honda has held firmly over the last three days in the Rs 1,725 and Rs 1,75o level. On Wednesday, though there has been all round selling in the market, the stock closed near the day’s high. It is likely for the stock to touch Rs 1,825 level.

Bajaj Auto stock had rallied for two days on extension of DEPB scheme however, the stock witnessed selling on Wednesday on higher volume after it hit the previous high resistance range of Rs 1,375. The stock can come down to Rs 1,325 level if it crosses Wednesday’s low of Rs 1,362.

Though SAIL saw good selling on Wednesday, JSW Steel held on to its level of Rs 880, which it is holding for the last two days. The stock closed the day at Rs 888.65. An upward move above Rs 900 can take it to Rs 940 levels.

We had a buy call onLupin which was triggered above Rs 442 on Wednesday. However, the stock near the low of the day at Rs 440.50. We maintain the target of Rs 460 for the stock and would like to keep the stop loss at Rs 437.50.

Idea Cellular moved up further and touched a high of Rs 74.80 but closed at Rs 74. We would like to lower our target to Rs 75 given the time taken by the stock to move up.

We are short onJain Irrigation below Rs 152 since Friday. The stock fell down further and touched a low of Rs 150.60 and closed at Rs 151. We maintain our target of Rs 145 for the stock.

We have been long onHDFC Bank since Tuesday, however the stock moved in a very narrow range and neither crossed Tuesday’s high or low. With an interest rate hike expected on Thursday, we would like to move the stop loss higher to Rs 2,367, the low of Wednesday.

“Neither the author of this post nor his immediate family members has a stake/share in the above-mentioned shares/mutual funds.”

FIRSTPOST DISCLAIMER: Firstpost brings you information and opinions on shares, funds and other investment options based on broker reports and private equity research. Investors are, however, warned that they should NOT take any buy or sell decision based on the views expressed in our posts or what is discussed in our chat sessions on market movements. Investors should consult their own financial and share advisors before taking purchase or sale decisions. Firstpost does not take any responsibility for any losses incurred by investors who take their cues from our posts and chat sessions.