Technical calls: Buy Exide Industries, sell Titan

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

Manas Jaiswal, manasjaiswal.com has two buy calls. The first one for the day is Shree Renuka Sugar. After being priced near to Rs 32, the stock bounced back sharply. Yesterday it crossed Rs 33.50 with higher volumes. So, now the stock can test its 200 day moving average, which is placed Rs 37. One can buy this stock at current levels with a stop loss of Rs 32.50.

His second pick of the day is Exide Industries. The stock fell sharply from the level of Rs 140. Yesterday it took support and recovered smartly. On the daily chart the stock made a hammer pattern. So, we may see further recovery and the stock can test Rs 135 in next two-three trading sessions. One can buy it with a stop loss of Rs 127.

Rajesh Jain of Religare Securities is bearish on Titan Industries which has held on strongly above the long term averages on the daily charts. Now, it has formed an inverted head and shoulder on intraday charts and is now on the verge of a breakout from the same. One may go long at current market price with closing below stop loss of Rs 224 for the target of Rs 242.

Cummins India has recently formed lower highs and has failed to cross above resistance zone of Rs 445 levels. Now the stock has given a fresh break on the lower side and is also trading below its long term averages on the daily charts. One may go short between Rs 431-433 keeping a closing stop loss of Rs 438 for the target of Rs 415.

First pick of the day for Rakesh Gandhi, LKP is Balrampur Chini. The stock has seen a breakout from a head and shoulder pattern and the stock has also retraced after the breakout and has taken a support on its neckline. Once again the upper momentum has started and hence can be bought for a target of Rs 70 in few weeks with a stop loss of Rs 59.

His second pick for the day is Lupin. The stock has remained in a tight trading range since the month of April. Yesterday, after the result announcement it has broken out in an all time new high and with good volumes. I believe the stock could give further higher levels and there may not be a selling pressure in this new zone. Hence, it can be bought for a target of Rs 640 with a stop loss of Rs 560.

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.