Technical calls: Buy Biocon, sell Petronet LNG

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

Manas Jaiswal, manasjaiswal.com is bullish on KPIT Cummins Infosystems as the stock has shown a triangular pattern with higher volumes. So now we may see a sharp up move and the stock can test Rs 135 in next 3-4 trading sessions. One can buy the stock at current levels with a stop loss of Rs 118.

His second pick of the day is Petronet LNG which is facing resistance near to the 200 day moving average for last 15-20 days. After breaking the support of Rs 145 yesterday, the stock can now correct from its recent rally of Rs 127-150 levels and can test Rs 135 in next 3-4 trading sessions. One can go short with a stop loss of Rs 148.

Rajesh Jain of Religare Securities has a buy call on Biocon which has formed a fresh buying pivot on the daily chart as the stock took support on the uptrend line on the daily chart and could witness a rebound. Investors may go long at current market price with a stop loss below Rs 241 for a target of Rs 258.

However he has a sell call on Petronet LNG. After witnessing swift rebound from Rs 125 levels Petronet LNG took resistance around Rs 150 levels and formed a negative pattern on the daily charts. It has broken down from the pattern providing fresh shorting opportunity. One may short between Rs 146-147 level, which is its resistance keeping

a closing stop loss of Rs 150 for the target of Rs 136.

Rakesh Gandhi, LKP has a sell call on BGR Energy. It has closed below its exponential moving average of 200 days and has also broken below a rising channel formation which is bearish. Looking at the pattern the stock could see further lower levels and hence can be shorted for a target of Rs 270 with a stop loss of Rs 300.

His second pick for the day is sell IDFC . The stock has started making lower lows and lower highs indicating that trend has reversed. Further the short-term moving average has also crossed down the long-term moving average indicating also that the price could see further lower levels and hence can be shorted for a target of Rs 125 with a stop loss of 135.

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.