Check out: Rupee's fall is a silver lining for these stocks

The markets are on a downward spiral today as the Sensex has fallen by 113 points to 17188 while the Nifty is just about managing the 5200 level, though it is down 38 points.

The marker breath is negative with 910 stocks on the decline side, 412 advanced and 68 are at the same level. Negative news seems to hitting the streets right from the rupee woes to the RBI Basel III guidelines. The rupee woes continue as it hit a fresh four-month low of Rs 53.22 today. One of the largest state-run banks is seen selling, sparking some talk of RBI, but dealers say that the lender has also been buying dollar to meet custodian demands, a Reuters report noted.

However, the deprecation of rupee, comes as a silver lining for Information Technology stocks, which derive lion share of revenues from exports. IT continued to edge higher led by Wipro (1.7 percent), Mphasis (1 percent), Core Projects (1 percent). TCS and Infy also edged higher as they were up by 0.4 percent each as the rupee breaches the 53-mark.

Of the 13-sectoral indices, nine are in the red with autos (-2 percent) extending the fall for the second day in a row after tepid sales growth reported by most auto firms for the month just gone by. Tata Motors declined after the company said it will stop selling and servicing Fiat’s cars in India after the two companies agreed to revamp a more than six-year-old alliance. Hero MotoCorp plunged more than 5 percent on profit taking after its March results and the fact that they have hiked prices.

Banking stocks tumbled on the exchanges today as the RBI announced Basel III guidelines for Indian banks. SBI tumbled almost 2 percent, Axis (-3 percent), BoI (-2.29 percent), ICICI Bank (-2.7 percent), Indusind Bank (-2 percent) were some of the top losers.

However, admist all this there were some stocks that were on an uptrend. Sugar stocks moved up after the government decided to free the sugar exports for the current season. Shree Renuka Sugar, Balrampur Chini, Bajaj Hindustan, Dhampur Sugar Mills jumped by 3-6 percent in trade today.

Some of the stocks whose results are due today include Marico (-1.3 percent), Great Eastern Shipping (-0.6 percent), Piramal Health (+0.5 percent).

•Vishal B Malkan, www.malkansview.com has a sell call on Maruti as it is giving a bearish candle stick pattern on daily charts. He recommends a stop loss of Rs 1,345 for targets of Rs 1,310-Rs 1,300. He has a buy call on Titan Inds as it has given a good move yesterday giving a breakout on hourly charts as well as on volumes. I recommend a buy with a stop of Rs 240 for targets of Rs 248-252.

•Keynote Capital has two buy ratings for the day. They recommend buying Titan Inds as it has started a smart uptrend after finding very strong support around Rs 230 levels. The stock is expected to move to the recent resistance around Rs 260 with a stop loss being at Rs 235. The second stock is TTK Prestige. It is in a new bull orbit having made a 52-week high. The stock is expected to move to Rs 3,750 levels with a stop loss being at Rs 3,450

•Rajesh Jain, EVP Retail Research, Religare Sec two stock recommendations are - one can buy Cipla near levels of Rs 315, which is an important support keeping a stoploss of Rs 310 for target of Rs 328. On the other hand, one can short Syndicate Bank at current price (Rs102.6) keeping a stop loss of Rs 112 for target of Rs 98.