 "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.
Over the last three days,Patni Computers has moved from Rs 326 to Rs 347, the rise has been on low volume. A downward move in the stock below Rs 341.15 can bring it down to Rs 325 levels.
[caption id=“attachment_37629” align=“alignleft” width=“380” caption=“Yes Bank. Reuters”]  [/caption]
Patel Engineering has once again hit its resistance patch at Rs 160. The stock saw some high volume selling on Wednesday. The stock can touch Rs 144 if it crosses below the low of Wednesday of Rs 152.55.
A relief from the telecom tribunal on the Rs 250 crore penalty saw renewed buying in Idea Cellular. The stock can touch Rs 85 if it penetrates Wednesday’s high of Rs 78.90.
The recent rise in McDowell from Rs 950 to Rs 1050 has been on lower volume both in the cash as well as derivative markets. The stock saw some selling on Wednesday, and if this continues, it can take the stock down to Rs 1000.
Orchid Chemicals was a sell call below Rs 270 with a target of Rs 260 given on Tuesday. The stock plunged to a low of Rs 268.45 and closed at Rs 269.70. We continue with our sell call and maintain our target of Rs 260 on the stock.
Century Textile was a sell call since Monday below Rs 368. On Wednesday, the stock touched a low of Rs 362.70 and closed higher at Rs 368.05. We continue with our sell call but due to the slow movement we increase our target to Rs 355.
Our sell call inReliance Communications has been set off with the stock touching a low of Rs 96.60. The stock closed at Rs 96.95 on Wednesday. We have a target of Rs 93 on the stock which we maintain.
Yes Bank crossed the previous day high of Rs 325.75, triggering us in on the trade. The stock hit a high of Rs 329.30 and closed at Rs 325.70 on Wednesday. We maintain our price target of Rs 340 on the stock.
Our sell call onTata Communications was triggered in the last few minutes of trading on Wednesday. The stock pierced our entry price of Rs 214.80 and touched a low of Rs 214.35 and closed at Rs 214.70 on Wednesday. We have a target of Rs 205 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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