Sell day: Adani, Tata Motors and SBI

The stocks below are the top picks for the day that offer a wide array of choices to retail as well as long-term investors.

Adani Enterprises (Sell below Rs 570, target of Rs 550)

Adani Enterprises announced a lower than expected results which caused the stock to fall by nearly 5 percent to Rs 571.95. Though the stock has fallen on lower volume, technically the chart looks very weak. Adani Enterprises can go down further to Rs 550.

Tata Motors (Sell below Rs 840, target Rs 800)

[caption id=“attachment_59388” align=“alignleft” width=“380” caption=“T ata Motors announced its results on Thursday on the closing bell, leaving no room for the markets to react.Reuters”]  [/caption]

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Tata Motors has announced its results on Thursday on the closing bell, leaving no room for the markets to react. Its profit numbers were well below market expectations. We can expect a reaction to its results on Friday, which can see the price drop.

SBI (Sell below Rs 2241, target Rs 2200)

SBI is expected to announce its results on Saturday. As in the case of the previous quarter, market is expecting a negative surprise by way of further write-offs. Traders might not be interested in carrying forward their position in the stock.

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