Technical calls: Buy Jubilant Foodworks, Pantaloon Retail

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

Manas Jaiswal, www.manasjaiswal.com has two buy calls. The first is Orchid Chemicals which is continuously making higher tops and higher bottoms in the daily chart. On Friday the stock broke the resistance of Rs 126 with higher volumes. So now the stock can test Rs 134 in next 1-2 trading sessions. One can buy the stock at current levels with a stop loss of Rs 124.

The other buy call for the day is Jubilant Foodworks. The stock was trading in the range of Rs 1,250 to 1,210 for last 7-8 trading sessions but on Friday it broke this range on the upside with higher volumes. So now the stock can test Rs 1,295 in next 2-3 trading sessions. One can buy the stock at current levels with stop loss of Rs 1,238.

The first pick of Rakesh Gandhi of LKP is HDFC Bank. This stock has formed a rising pattern which on the intraday chart is bearish in nature and the stock is likely to witness a breakdown from the same. Accordingly one may go short between Rs 585-587 levels, which is its resistance and keep a closing stop loss of Rs 591 for the target of Rs 574.

Second pick is Pantaloon which has paused and formed a flag pattern on daily charts. On Friday the stock broke out from the flag pattern and crossed above its 200 day moving average resulting in a fresh buy signal. One may go long at current market price with closing below stop loss of Rs 186 for the target of Rs 202.

Rakesh Gandhi, LKP has a buy call on Jubilant Foodworks, the stock has been consolidating in last two months and has formed a symmetrical triangle formation in last two months. On Friday it has seen a breakout from this pattern and with supporting good volumes. He believes in next 6-8 weeks it could see levels of Rs 1400 but for a very short-term the target for the stock is Rs 1300 with a stop loss of Rs 1230.

PTC India has been trending in a rising channel formation between the support and resistance making a higher highs and higher lows. But eventually it has broken a bearish formation of rising channel in last week and is expected to see further lower levels and hence can be shorted for a target of Rs 55 with a stop loss of 61.75.

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.