 "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.
Aurobindo Pharma has been testing the Rs 168.50 levels over the last two days. The stock has shown weakness, though on low volume. If the counter manages to break this support of Rs 168.50, it can go down to Rs 162.
Euphoria over Dena Bank’s results seem to have died down by Monday. The stock has moved up from a low of Rs 78.60 on Friday to a high of Rs 87.50 by Monday. It closed near the low of the day on Monday at Rs 85.40. If selling continues below Rs 84.75, the stock can come down to Rs 80.
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Neyveli Lignite has tested the Rs 97.15 level three days in a row. Given its movement on Tuesday the stock looks likely to break this support level on the downside, which can take it down to Rs 92.
Volume has progressively increased in Bajaj Holding over the last one month. The stock presently trades near the top of the range at Rs 776.95. If it manages to break the Rs 780 resistance level the stock can touch Rs 820 level.
Reliance Infra has bounced from Rs 535 level for the third time in three days. The rise has however been on low volume and thus looks unconvincing. A fall below Rs 535 can bring the stock down to its previous low of Rs 515.
Axis Bankwas a buy call above Rs 1,340 with a price target of Rs 1,400. The stock touched a high of Rs 1,367.55 and closed at Rs 1,353. We continue with our call and maintain the price target.
We had initiated a sell call onReliance Industriesbelow Rs 823.15 with a target of Rs 790. The stock touched a low of Rs 821.35 and closed at Rs 830.85. We maintain our sell call and price target on the stock.
Dish TVwas a buy call above Rs 84.50, which was triggered on Thursday. The stock went up to a high of Rs 86.80 on Monday and closed the day at Rs 86.10. We maintain our target of Rs 90.
Exidewas a buy call with a target of Rs 160, which was activated on Wednesday. The stock climbed a high of Rs 157.95 on Monday but closed lower at Rs 153.05. Though we remain positive on the stock, we would like to increase our stop loss to Rs 152.10.
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“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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