Buy or sell: Here are the stock picks for trade today

Here are your intra day picks for the day from various market experts and brokerage houses.

FP Staff June 04, 2012 11:05:51 IST

Here are your intra day picks for the day from various market experts and brokerage houses :

Shardul Kulkarni of Angel Broking has two sell calls. He recommends selling Tata Power June Futures in the range of Rs91.5-93 with a target of Rs 86 in the next 4-6 trading sessions. One can keep a stop loss of Rs 94.5. The second stock on the sell list is Bata India as there are signs of weakness. One can sell the stock below the levels of Rs 852 with a stop loss of Rs 874 and a target of Rs 800 in the next 4-6 trading sessions.

Arunesh Madan, Founder and Director of Augment Investment Pvt ltd, also has two sell calls. Even he recommends selling Bata India at the current price as the stock has formed an engulfing bearish pattern on the weekly candlesticks charts. The targets he has placed for are Rs 822 and Rs 807 some time during this week with a stop loss above Rs 885 on a closing basis.

Buy or sell Here are the stock picks for trade today

Reuters

The second scrip to sell on his radar is Cairn India as he believes that the corrective rally that started from a level of Rs 300 on the stock seems to be getting over. Look for a retest of Rs 300 in the coming days and keep a stop loss above Rs 325 on a closing basis, he added.

However, Rajesh Jain, EVP Retail Research, Religare Sec, has two buy calls. He says that cement stocks have been holding on in the fall in the current market so investors could look at UltraTech Cement as that stock closed higher in the last two trading sessions when the market was falling. One can buy the stock near its important support of Rs 1,430, keeping a closing stop loss of Rs 1,400 for higher target of Rs 1,500.

The second stock to buy is Tata Motors as the stock has fallen sharply in the last 4 trading sessions. The stock has a lot of support near Rs 218 levels and if any fall comes one can buy the stock near Rs 218 keeping a closing stop loss of Rs 212 for target of Rs 235 in coming days.

Indraprastha Gas, the stock that galloped on the exchange on Friday, has a target price of Rs 275, says SP Tulsian. The stock is in news after the Delhi High Court ruled in favour of city gas utility Indraprastha Gas which was contesting a directive from a government regulator to cut gas tariffs in New Delhi.

Disclaimer: Views expressed above are that of various market experts only and Firstpost will not be held responsible for any investment decision based on the above recommendations.

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