Stock Recommendations

SENSEX(27849) BSE Sensex also opened on a flat note but turned lower after hitting an intraday high of 27959 levels. It has immediate strong barrier near to psychological 28000 marks and above that only bulls may take off the momentum on higher side. On upside holding above 28000 may take it to 28250 and 28400 levels while if fails to hold 27700 then weakness may be seen towards 27500 and 27250 levels

INTRADAY PICKS

GLENMARK (LTP: 857) BUY For today's trade, long position can be initiated only in Rs.845-840 range for target of Rs.870 with a strict stop loss of Rs.830.

REC (LTP: 298) SELL For today's trade, short position can be initiated only in Rs302-

306 range for target of Rs.288 with a strict stop loss of Rs.310.

GDL is turning from its lower band of the trading range with huge accumulation of last one month. It is moving with rising trading and delivery volumes with positive sign from technical indicators. It has managed to move and hold above 50DMA and holding above 360 zones may continue its up move towards 393 and 425 levels. One can buy the stock between Rs.369 to 373 with stop loss of 360 for the upside target of 393 levels. 

HINDUNILVR is moving after a long consolidation of last five weeks and crossed its immediate hurdle of 869 zones. It has taken multiple support near to 830-840 zones and now holding above 869 may continue its up move towards 907 and higher levels. It has added huge delivery volumes and looks strong in terms of risk reward ratio. One can buy the stock between Rs.866 to 875 with stop loss of 852 for the upside target of 905 levels.

Technical Stock Recommendations

DLF, continues to witness a weak trend as the stock continues to give negative breakdown at various levels after failing to move past its 200 day simple moving average during the multiple attempts. Even in yesterday's trade, we observed stock witnessing a fresh supply at higher levels that limited the up move. Stock is also trading below all the short term averages. MACD below neutral line and RSI below 50 mark since April indicates a weak trend in the stock. Stock also faces strong resistance in the range of Rs.125-130 with 20 day exponential moving average also placed around level of Rs.126. We believe this region provides a good shorting opportunity for the traders for further downside towards level of Rs.110-105.

Thus, for today's trade, short position can be initiated only in Rs.125-130 range for target of Rs.110- 105 with a stop loss of Rs.135.