9 stocks to watch out for today

The 9 stocks below are the top 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.

Orchid Chemicals was in news for the second day running. Both new stories have been been negative; the first being the increased position of pledged shares and the second a closure notice for one of its plants. The stock has closed near the high on Monday. Orchid Chemicals can touch Rs 265 levels, if it crosses the high made on Monday of Rs 252.80.

Allahabad Bank has seen a price correction after it managed to break out from its resistance of Rs 204. The correction has been on lower volume, thus indicating a chance of a rally. The stock can touch Rs 215 if it crosses Monday’s high of Rs 206.70.

Bombay Dyeingwas a buy call which was triggered on Monday above Rs 383.85 with a target of Rs 400. The stock touched a high of Rs 385.50, but closed the day lower at Rs 375.65. We maintain our buy call on the stock.

DLFwas a sell call with a price target of Rs 225. On Monday, the stock closed at the low of the day at Rs 228.65. We maintain our price target on the stock.

Essar Oilwas a buy call with a target of Rs 135. The stock vaulted to a high of Rs 132.45, but ended lower at Rs 127.25. We maintain our buy call on the company, especially since the company’s results were announced after closing of market hours on Monday.

ICICI Banktouched a low of Rs 1,046.65 on Monday. We have a target of Rs 1,015 for the stock, which we maintain.

India Cementswas a sell call with a target of Rs 70. The company plunged to a low of Rs 72.40 and closed at Rs 72.85 on Monday. We continue our sell call and maintain the target.

United Phosphoruswas a sell call since Friday. The stock touched a low of Rs 153.25 on Monday and closed at Rs 156.70. As the jump on Monday was on low volumes, we continue with our sell call.

Patni Computershas been a sell call since Wednesday below Rs 341.15. The stock dived to a low of Rs 335.95 on Monday and closed at Rs 336.85. We remainbearish with a target price of Rs 330.

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