But traders need to need not be worried about these but rather look for opportunities based on these information or on pure trends. So today's recommendation by experts are as following.
(Also read views of Rajesh V in Traders Corner)
Sharetipsinfo has recommended the stock of TTK Prestige for trading with a time frame of 1-2 days. The stock should be bought around Rs 2,800-2,795 with a target price of Rs 2,800-2,900 with a stop loss at Rs 2,775.
The website, Technicalanalysisofstocks, has recommended the stock MOIL, for the target price of Rs 375 and a stop loss at Rs 348. The recommendation is based on the bullish breakout trend with heavy volume.
Shardul Kulkarni, Sr Technical Analyst, Angel Broking shares his stock picks for the day.
Elecon: Here the recommendation is the is to buy for its breakout signal with a target price of Rs 87.50 and a stop loss at Rs 72.30. The stock has given a breakout from a bullish flag pattern at Rs 76.25 with huge volumes. In addition, we are observing a bullish crossover of 5 & 20 EMA on the weekly charts. Buy this stock on a decline up to Rs 75.40 for a target of Rs 87.50 in the coming 2-3 weeks.
Adani Power: For this stock too the recommendation is buy as there is an indication of an upmove with a target price of Rs 126 and a stoploss at Rs 106.50. The stock is continuously taking a support near its multiple support zone of Rs 106. The weekly chart shows a positive crossover in RSI-smoothened oscillator, suggesting a positive up move is likely to continue. Buy this stock on decline up to Rs 109.50 for a target of Rs 126 in coming 2-3 weeks.
CEAT: Kulkarni recommends a buy for this tyre company for its breakut signal with a target price of Rs 131.80 and stop loss at Rs 108. On the daily chart, the stock is forming a bullish flag pattern which will be confirmed above Rs 114.80. The momentum oscillators on the weekly chart suggest possibility of breakout. We advise buying the stock only aboveRs 114.80 for a target of Rs 31.80 in the coming 3-4 weeks.
Polaris Software: the recommendation for this stock is sell on negative bias with a target price of Rs 161 and a stop loss at Rs 174. The stock is continuously moving in a lower-top lower-bottom cycle and is trading well below its major moving averages. The momentum oscillators on the weekly chart are negatively poised. Sell this stock only below Rs 170.25 for a target of Rs 161 in the coming 2 -3 weeks.
Zee Entertainment: Here also the recommendation is to sell the stock since the trend is of breakdown with a target price of Rs Rs 115.80 and a stop loss at Rs 125.50. The stock has given a breakdown from an upward sloping trend line at Rs 124. The momentum oscillators on the weekly chart suggest a possibility of a downward move in coming trading sessions. We advise selling the stock only below Rs 122.70 for a target of Rs 115.80 in the coming weeks.
FirstPost have selected the following stocks which the traders should follow for the day: Adani Power, Educomp, Hotel Leela, Exide, Chambal Fertiliser, Indian Hotel, Allahabad Bank, Bank of Baroda and Idea.
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