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 Communications moved up strongly in the opening minutes of Tuesday on news of the company being allowed to sell the VSNL land. However, after the first few minutes of high volume trades there was no follow-up buying in the counter. The stock can come down to Rs 205 if it falls below the low of Tuesday of Rs 214.80.

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Falling crude oil prices have resulted in buying in MRPL over the last few days on expectation of better refining margin for the company. Though the stock has taken a pause on Tuesday with a drop of nearly one per cent, the fall has been on low volume. MRPL can move up to Rs 88 if it crosses the high touched on Tuesday of Rs 83.25.

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Yes Bank has seen some good high volume trades over the last few days. The stock can touch its previous high of Rs 340 if the momentum is maintained. Buy only if the high of Tuesday of Rs 325.75 is crossed.

Barely had Reliance Communications broken the previous high, the stock met with selling pressure. The stock can come down to Rs 93 if Tuesday’s low of Rs 98.15 is broken.

United Phosphorus has once again reached its resistance zone of Rs 160. The stock has retracted back twice over the last five days. It can come down to Rs 150 levels below Rs 156.50.

Shriram Transport has been moving up on news of Orix Corporation picking up a stake in the company. However, buying volume has been falling over the last two days. If the low of Tuesday of Rs 670 is broken the stock can touch Rs 650.

Century Textile was a sell call below Rs 368 with a price target of Rs 350. The stock penetrated Rs 368 and touched a low of Rs 360.30 but closed at Rs 368.20 on Tuesday. We continue with our sell call and maintain the target of Rs 350.

Our sell call onPantaloon Retail was triggered below Rs 321. On Tuesday the stock touched a low of Rs 315.05 and closed at Rs 315.50. We maintain our price target of Rs 309.

Orchid Chemicals was also a sell call below Rs 270 with a target of Rs 260. It touched a low of Rs 268 and closed at Rs 270 on Tuesday. We continue with our sell call and maintain our target of Rs 260 on 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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