Money Jul 10, 2012
Here are your intra day picks for the day from various market experts and brokerage houses :
Manas Jaiswal, manasjaiswal.com has two recommendations, ICICI Bank and Bank of Baroda. According to him, one can short ICICI Bank as the stock is now facing resistance near Rs 940 after the sharp rally from the level of Rs 800. Investors can short the stock as it can test Rs 900 in the next 1-2 trading sessions with a stop loss of Rs 942.
The next stock to short is Bank of Baroda as the stock can correct its recent rally and test Rs 695 in the next 1-2 trading sessions with a stop loss of Rs 717.
Vishal Kshatriya, Edelweiss, recommends two scrips, DLF and Educomp. He says one can go long on DLF as the stock has given a breakout of its declining trend line placed on its hourly charts. He expects the stock to trade in the positive bias in days to come and hence recommends going long at the current market price with a target of Rs 225 and a stop loss below Rs208 per share.
His second pick of the day is Educomp as the stock has breached and closed below its support of Rs 170 placed on its charts. The momentum oscillators on the daily charts have also given a fresh signal and he expects the stock to trade with a negative bias and hence recommends going short in the range of Rs167-170 with a target price of Rs 152 with a stop loss of Rs 177.
Sanjeev Agarwal, CEO, Dynamix Research & Capital, has two buy recommendations. The first stock to buy is MRF as the stock has given a very strong breakout two days back and is now pulling back. Investors can buy the stock at the current market price with a stop loss below Rs 10,000 on closing basis targets of Rs 11,100 and Rs 11,500.
The next stock to buy is Scheider Electric as it has been correcting for quite some time and it gave a strong breakout three days back. One can buy the stock at the current level with a stop loss below Rs 72 for targets of Rs 90-100.
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.
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