 "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.
The recent run up in Ashok Leyland has been on low volume, despite the company announcing a liberal bonus and posting better than expected sales figure. If Thursday’s low of Rs 51.90 is broken the stock can touch Rs 49.
We had given a sell call on United Phosphorus earlier which was not triggered. The stock moved marginally higher on low volume. With announcement of lower monsoon, there can be some negative sentiment on the stock. A move below Rs 157.75 can bring the stock down to Rs 150 levels.
Patel Engineering was a sell call generated for Thursday’s trade, however, the trade was not triggered. We continue with our sell call below Rs 153.25 and a target of Rs 145.
[caption id=“attachment_38250” align=“alignleft” width=“380” caption=“Ashok Leyland. Reuters”]
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We had a sell call onPatni Computersbelow Rs 341.15 with a price target of Rs 325. The stock touched a low of Rs 336.25 and closed at Rs 340 on Thursday. We will continue with our sell call on the company.
We were triggered on the long side inIdea Cellularabove Rs 78.90. The stock closed at its high of Rs 81.55 on Friday. We continue with our target of Rs 85.
Orchid Chemicalswas a sell call below Rs 270 with a target of Rs 260 given on Tuesday. The stock touched a low of Rs 270 and closed at Rs 273. We continue with our sell call and maintain our target of Rs 260 on the stock, but move the stop loss to Rs 265.
Century Textilewas a sell call since Monday below Rs 368. On Thursday, the stock hit a low of Rs 366.60, but closed higher at Rs 372.40. We continue with our sell call with a target of Rs 355.
Our sell call inReliance Communicationscontinues. The stock touched a low of Rs 96.10, but closed the day at Rs 99.10. We had a target of Rs 93 on the stock which we maintain.
Yes Bankwas a buy call above Rs 325.75 and a target of Rs 340. The stock climbed a high of Rs 328.85 on Thursday and closed the day at Rs 326.80. Though we remain bullish on the stock, we’re reducing the price target to Rs 335, given the stock’s non-performance on Thursday.
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