Manas Jaiswal of manasjaiswal.com
Sell Steel Authority of India ( SAIL ). Yesterday it has broken the support of Rs 47, so one can go short at current levels with a stop loss of Rs 48. The stock can test Rs 44 in next two-three trading sessions.
For last 15 days Jaiprakash Associates was trading in the range of Rs 51 and 56 but yesterday it broke this range downside with higher volumes. So now stock can test Rs 47 in next two-three trading sessions. One can go short at current levels with a stop loss of Rs 53.
Shardul Kulkarni of Angel Broking
Buy Siemens . Despite significantly negative market conditions in yesterday's trading session, we have seen that the stock clearly shows a very strong trend line breakout along with rise in volumes. Buy the counter above the levels of Rs 584, place a stop loss at Rs 570 and trade bullish for a target of Rs 610 over the next six-eight trading sessions.
Sell IDBI Bank July Futures. PSU banking counters have taken the brunt in case of yesterdays trading session and going forward we expect significant downside in case of IDBI Bank also. We recommend selling the July Futures contract below the levels of Rs 70, place a stop loss at Rs 74 and trade bearish for a target of Rs 62 over the next four-six trading sessions.
Gaurav Ratnaparkhi of Sharekhan
I have a buy call on Aban Offshore . The stock has been falling for a while now. In its recent fall it has fallen from weekly upper bollinger band towards the weekly lower bollinger band. Since last few days it is forming a short-term base near the weekly lower bollinger band. Short-term momentum indicator is showing positive divergence and as figured bullish crossover. So I am expecting a decent bounce in this counter and stop loss can be placed at Rs 241.30 and target on the upside will be Rs 262.
Second pick is India Cements . It recently suffered near vertical fall. It has posted weekly negative close for nine consecutive weeks. However, it is now due for a decent retracement and it is expected to retrace the entire nine week fall. The daily momentum indicator is in bullish mode and on the daily chart it has formed a bullish wedge pattern. So I am expecting this stock to move up till the level of Rs 61 from short-term perspective and stop loss can be placed at Rs 54.90.
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Super Six short term picks for July 17
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