Technical calls: Buy BPCL, sell Dena Bank

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

Manas Jaiswal of manasjaiswal.com has two buy calls. First is BPCL. After a sharp fall yesterday the stock took support at 200 day moving average (DMA) and bounced back sharply. On the daily chart it made a bullish engulfing pattern. So we may see further recovery in the coming days and stock can test Rs 365 in next 3-5 trading sessions. One can buy the stock at current levels with a stop loss of Rs 344 and target of Rs 365.

Second buy for the day is Hexaware Technologies. The stock was trading in the range of Rs 118 and 112 for last two weeks but yesterday it broke this range upside with higher volumes. So now we may see further recovery in the stock and it can test Rs 125 in next 3-4 trading sessions. One can buy with a stop loss of 116.

After testing the support zone of Rs 110, Hexaware Technologies has consolidated between Rs 110-120 levels for two weeks and now the stock has given a break on the higher side. One can buy the stock between Rs 115-117 keeping a stop loss of Rs 113 and target of Rs 128.

Rajesh Jain of Religaire Securities is bearish on Dena Bank. In line with prevailing bearish sentiments across PSU banks, Dena Bank has stopped falling from higher levels. Now the stock is showing weakness. Hence a short call around Rs 91 with a stop loss of Rs 94 and target of Rs 84.

Rakesh Gandhi, LKP has a buy rating on Multi Commodity Exchange of India which has seen a sharp decline from the level of Rs 1248 and found support at its IPO price of Rs 1040.

On wednesday it had moved above Rs 1120, which was a resistance level since last few days, the stock saw a very sharp upward move. There are indications that there could be further upward move in the stock. Hence a buy call for a target of Rs 1190 and stop loss of Rs 1120.

Another buy call is for Ranbaxy Laboratories . The stock has seen a breakout from flag pattern in last week. Now it is sustaining above the resistance level of Rs 500. Once it moves above the Rs 520 level, he believes it could see levels up to Rs 540-550 as the momentum will pick up and hence it could be bought with a stop loss of Rs 500.

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