9 stocks to watch out for today

Today we chosen the following stocks: Bank of Baroda, IDFC, ITC, Bombay Dyeing, CESC, Biocon, Hexaware, Educomp and National Aluminium.

Shishir Asthana July 21, 2011 07:18:35 IST
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.

National Aluminium has taken support at the Rs 80 levels, from where it bounced back a week back. However, the stock seems to be in selling pressure and can break this support level and can go down to Rs 75.

Hexaware has fallen from its yearly high of Rs 78. The stock has seen some selling over the past few day and can go down to Rs 71.50 if it breaks the low of Wednesday of Rs 74.60.

For the second time in a month Educomp has come down to test the Rs 380 levels. Recent selling has been on higher volume, signalling a possible breakdown of this level. The stock can touch Rs 360 if this level is broken.

9 stocks to watch out for today

Biocon head Kiran Mazumdar Shaw . Reuters.

Biocon has seen selling near its previous top of Rs 380. With the company expected to announce its results on Thursday and the recent reaction of the markets to corporate results, the stock can come down to Rs 350 if the low of Wednesday of Rs 370 is broken.

CESC has seen some selling over the last three days, however the fall was on lower volume. The stock can bounce back to its previous top of Rs 345, if it crosses Wednesday's high of Rs 334.40.

Bombay Dyeing has attempted to cross the high of Rs 386 four times in the last one month. Recent movement in the stock suggest accumulation and if the high of Rs 386 is broken it can touch Rs 400.

ITCwas triggered on the long side above our entry price of Rs 207.35. The stock touched a high of Rs 207.35 and closed the day at Rs 205.50. We maintain our target of Rs Rs 215 for the stock.

IDFCwas a buy call above Rs 143.15. The stock touched a high of Rs 144.15 but closed lower at Rs 140.05 on Wednesday. We have a target of Rs 155 which we maintain.

Bank of Barodawas a buy call with a target of Rs 915. The stock touched a high of Rs 903.75 and closed the day at Rs 897.15. We maintain the target 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."

FIRSTPOST DISCLAIMER:Firstpostbrings you information and opinions on shares, funds and other investment options based on broker reports and private equity research. Investors are, however, warned that they should NOT take any buy or sell decision based on the views expressed in our posts or what market movements. Investors should consult their own financial and share advisors before taking purchase or sale decisions.Firstpostdoes not take any responsibility for any losses incurred by investors who take their cues from our posts and chat sessions.

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