Bajaj Auto at the wheel, the drive gets smoother

Today, we have chosen Axis Bank, Aban, Reliance Industries, Bajaj Auto, Bank of Baroda, Dish TV, Exide, EKC and Tata Motors as the top picks for the day. Also listen to our podcast on global cues that could impact the market today.

Shishir Asthana August 01, 2011 07:19:40 IST
Bajaj Auto at the wheel, the drive gets smoother

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.

Axis Bank has for the fourth time approached the Rs 1,340 level in the past one month. The stock can touch Rs 1,400 if it manages to cross this high.

Aban has just penetrated its previous low of Rs 490. The fall has been on good volume and if it breaks through this level, the stock can come down to Rs 475.

Reliance Industries has broken its previous low of Rs 828.10, closing the day at Rs 827.95 on Friday. The stock has broken on the downside from a 2-year range. If Friday's low of Rs 823.15 is broken, the stock can come down to Rs 790.

Bajaj Auto at the wheel the drive gets smoother

Screen grab from bajajauto.com

Bajaj Autowas a buy call above Rs 1,450 with a target of Rs 1,500. The stock scaled a high of Rs 1,482 on Friday and closed the day at Rs 1,470. We maintain our call and price target for the stock.

Bank of Barodawas also a buy call above Rs 874.55 with a target of Rs 900. The stock hit a high of Rs 881 on Friday and closed the day at Rs 880.

Dish TVwas a buy call above Rs 84.50, which was triggered on Thursday. The stock went up to a high of Rs 86.70 on Friday and closed the day at Rs 85.00. 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 to a high of Rs 156 on Friday and closed the day at Rs 155. We maintain our buy call and the price target.

EKCwas a sell call below Rs 91.55 with a target of Rs 86. The stock hit a low of Rs 89.20 and closed at Rs 89.40 on Friday. Though we maintain the target of Rs 86, we move the stop loss to Rs 93.

Our sell call onTata Motorswas triggered below Rs 965.65. The stock dived to a low of Rs 940 and closed at Rs 953 on Friday. We maintain our price target of Rs 925.

Also listen to our podcast with Venky Vembu, our editor in Hong Kong, on global and domestic cues that could impact the market today.

"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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