Sell day: Dump Crompton Greaves, Pantaloon, Jubilant Foodworks

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

Vishal Malkan, www.malkansview.com has two sell calls today. His first pick is Punjab National Bank as the stock has been underperforming the markets in the last couple of days. And while the daily pattern has turned bearish, the hourly momentum is also showing a bearish trend. He recommends a sell with a stop of Rs 834 for targets of Rs 820 and Rs 816.

His second pick is Pantaloon Retail . After a smart move the day before yesterday, the stock showed a bearish pattern on daily charts yesterday and ran into a gap resistance. It is expected to retrace back to the targets of Rs 182-180 per share with a stop loss of Rs 188.50.

First pick of Shardul Kulkarni, Angel Broking for the day is a sell call for Mahindra & Mahindra. He recommends selling the July futures below the levels of Rs 710. A stop loss on the upside should be placed at Rs 719. The potential target in the next three-five trading sessions is Rs 688.

The second stock that he recommends for sell today is Crompton Greaves . The chart shows that there is a candlestick pattern called as falling three. Prior to the results, this particular pattern has been formed which indicates that there maybe some disappointment in the results. Thus it is recommended to sell Crompton Greaves July futures below the levels of Rs 126. Place a stop loss at Rs 130 and the potential target is at Rs 116. The time frame for the call is around three-five trading sessions.

Arunesh Madan, Founder and Director of Augment Investment Pvt Ltd also has two sell calls for the day. First one is Larsen and Toubro which is trading very close to a major significant resistance level of Rs 1435-1440. He recommends using the current strength in the counter to create short positions in the range of Rs 1410-1415. Keep a stop loss above Rs 1440 on a closing basis and look for a target of Rs 1365-1370 in the coming days.

After moving in a very narrow range, Jubilant Foodworks has broken down from the trading range and closed below the trading range in yesterday’s trade. Look to short this stock in the range of Rs 1225-1230. Keep a stop loss above Rs 1260 on a closing basis and look for a target of Rs 1165-1170 in the next couple of trading sessions.

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.