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.

3i Infotech has been moving in a very narrow range of Rs 44 and Rs 44.75 over the last two days. With Thursday being the last day for rollover of its derivatives open position and with 50% of its position yet to be rolled over, we believe the stock can go below the Rs 44 level and take support at around the Rs 42 level.

[caption id=“attachment_15652” align=“alignleft” width=“380” caption=“Though the ONGC stock continues to fall daily, volume has reduced over the last three days.Photo by Joonas Plaan”]  [/caption]

ONGC has fallen from Rs 310 to Rs 262.40 levels in a span of eight trading days. The stock closed at Rs 262.40 on Wednesday, close to its support of Rs 260. Though the stock continues to fall daily, volume has reduced over the last three days. The stock can find support at the Rs 260 level. The stock offers a good risk reward trade at these levels.

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We have been bearish onIndian Hotels if it penetrates below Rs 77 with a price target of Rs 72. Though the stock opened higher on Wednesday, selling was witnessed throughout the day. The stock closed near the low of the day at Rs 78.40. We would like to continue to have a sell on the stock maintaining the same target.

We have been triggered on the sell side in Financial Technologies below the Rs 800 level. We continue to maintain the target at Rs 750.

Tata Motors DVR has been on our radar since Tuesday, though we have not been triggered in our support level of Rs 625 which has been held for another day. We would like to reduce our trigger point to Rs 637, which is the high touched on Wednesday.

In Voltas, we have been in the trade on Wednesday on the sell side below Rs 162. The stock closed at Rs 162.40 after touching a low of Rs 161.30. We maintain the price target of Rs 150.

ITC has been on our sell call since the day the company announced its results. We maintain the price target of Rs 180 with a stop loss of Rs 191.80. The stock touched a low of Rs 185.35 on Wednesday and closed at Rs 189.10. We would move our price target to Rs 183.75.

Hotel Leela was our sell call with a target of Rs 36 and move the stop loss down to Rs 40. The stock touched a low of Rs 38.30 on Wednesday. We would like to stick to our price target.

We are in theGAIL trade which got triggered near the closing hours of Monday, above the Rs 436 level. Our price target remains at Rs 450 for the stock. We are still in the trade with the stock closing at Rs 429.95 on Wednesday. However, we will move our stop loss to Rs 425.

Charts: moneycontrol.com

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