9 stocks to watch out for today
Today, we have picked Ashok Leyland, Balrampur Chini, Bank of Baroda, DLF, Grasim, Patel Engineering, JP Associates, BATA and Hero Honda as the 9 stocks of the day.
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.
Despite a liberal bonus announcement Ashok Leyland continues to fall. The stock has taken support at the Rs 45 level. A fall below this level can take the stock down to Rs 41.
Sugar stocks saw good volume in anticipation of allowing the industry to export sugar. An empowered group of ministers on food are expected to take a call on Thursday. The stocks, however, could not maintain the gains and closed near the low of the day on Wednesday.
Balrampur Chinni is one such stock. The stock has taken support at Rs 56.30 a fall below this level can bring the stock down to Rs 50.
DLF is for the third time in three months attempting to breach the Rs 208 support line. The current depressed market scenario can take the stock below this support right up to Rs 195 levels.
Bata India has corrected by over 10% from its all time high of Rs 575.80. Selling in the counter seem to have tapered down. It is likely that the stock can move back to Rs 560 if it crosses the high of Rs 528.65.
Grasim was a buy call above Rs 2,057 which was triggered on Wednesday. We maintain our target of Rs 2,115 for the stock and would like to move the stop loss for Thursday to Rs 2,040.
Patel Engineering was a buy call with a stop loss of Rs 131. The stock touched a high of Rs 140 on Wednesday and closed the day at Rs 135.90. We have a price target of Rs 145 for the stock.
Our sell call onJP Associates continues. We initiated the sell call below Rs 78.40. We have a price target of Rs 70 for the stock.
Bank of Baroda was a buy call which was initiated above Rs 865 on Tuesday. The stock touched a high of Rs 867 and closed the day at Rs 860.50. We have a target of Rs 900 for the stock and maintain our stop loss at Rs 855.
We have been on the buy side inHero Honda above Rs 1,755. The stock climbed a high of Rs 1,778 on Wednesday and closed the day lower at Rs 1,740. We have a target of Rs 1,825 for the stock, while we move the stop loss below Rs 1,725.
"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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