 "It's buy day. Pick Tata Motors and Jet Airways")
Here are your intra day picks for the day from various market experts and brokerage houses :
Parag Doctor of Motilal Oswal has two buy recommendations. His first pick is Tata Motors as the stock had a sharp fall last month from the Rs 300 levels to around the Rs 200 mark. It has now started a short term uptrend and is expected to touch the Rs 260 levels. One can buy the stock with a stop loss of Rs 231.
His second pick is the relatively low beta name, LIC Housing Finance. Even this stock has started a short term uptrend and is expected to move to the recent high around the Rs 270 mark with a stop loss of Rs 243.
Manas Jaiwal of manasjaiswal.com, also has two buy recommendations, Maruti Suzuki and UCO Bank. He says that yesterday Maruti broke the neckline of the inverse head and shoulder pattern on the daily chart and that now the stock can test Rs 1,200 in the next 1-2 trading sessions. One can pick the stock with a stop loss of Rs 1,120.
The second stock to buy is UCO Bank, as after taking support near the 200-day moving average, the stock has bounced back sharply and broke the resistance level of Rs 79 with higher volumes. The stock can test its April high of Rs 87 per share and one can buy it with a stop loss of Rs 77 at the current market price.
Arunesh Madan, Augment Investment also has two buy recommendations. The first pick is Jet Airways at the current market price as the stock has broken above its previous intermediate peak of Rs 372 and closed at the highest level in 6 months. Investors can buy the stock with targets of Rs 395 by Friday with a stop loss of Rs 1169 per share.
The second scrip to buy is ACC as the stock has broken from a falling trend line on its daily chart yesterday. One can buy the stock in the range of Rs 1,180-1,190 with a stop loss below the Rs 1,169 levels. The target investors could look out for are 1,225 in the next few days.
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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