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Money Jun 6, 2012

Pick Oriental Bank, drop Jubilant Foodworks today

By Firstbiz Staff

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

Shardul Kulkarni of Angel Broking has 2 buy recommendations, Bank of Baroda and Rashtriya Chemicals Fertilizers. He recommends picking up Bank of Baroda June Futures in the range of Rs 675-Rs 670 with a target price of Rs 710 as the stock has given a decent run up in yesterday's trading session and is likely to continue that way. The stop loss should be at Rs662.

His second pick is Rashtriya Chemicals Fertilizers (RCF). He recommends buying the stock above Rs 58.50 with a stop loss of Rs 57 and a target price of Rs 62 in the next four to six trading sessions.

Reuters

Arunesh Madan, Founder and Director of Augment Investment Pvt ltd has one buy and one sell call. In the buy space, he recommends buying Allahabad Bank at the current market price as the stock has completed a five leg decline from a level of Rs 210. For this stock, the target price is Rs 135 with a stop loss of Rs125.9.

On the sell list is Jubilant Foodworks. One can sell the stock at the current market price with a stop loss being placed above the Rs 1220 levels on a closing basis. The target price is Rs 1,080.

Rajesh Jain, EVP Retail Research, Religare Sec, has two buy calls. The first stock to buy is Oriental Bank at the current price with a stop loss of Rs 223 for a target price of Rs 238. His second pick is Mcleod Russel as it closed sharply higher yesterday and closed above the resistance zone of Rs282-284. The target price for this stock is Rs 300.

Anil Manghnani, Modern Shares & Stock Brokers, says that one can look at BHEL as a pullback is definitely on the cards. BHEL can move upto Rs 229-230. The second scrip one could look at is Reliance Infrastructure. Here the upside target is Rs 477 with a stop loss of Rs 437.

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.

by Firstbiz Staff

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