BIG BOSS
Check out the top picks of the day by VIKAS PARSHURAM SAMWATSARE , Sr Technical Analyst,
Jain Irrigation Systems Ltd.
Recommendation: Buy
Last Close: Rs 184.90
Target: Rs 196
Stop Loss: Rs 178
On daily charts, the stock gave a breakout from an upward sloping tredline at Rs 183. The momentum oscillators on daily charts are positively poised. We advise buying the stocks in the range of Rs 182 to Rs 185 in the coming 1-2 weeks. -----------------------------------------------------------------------------------------------------------
Ranbaxy Laboratories Ltd.
Recommendation: Sell
Last Close: Rs 431.20
Target: Rs 388
Stop Loss: Rs 433
On weekly charts, we are witnessing a bearish "flag" pattern breakdown. The placement of moving averages on monthly charts suggests selling pressure will continue. Hence, we advise selling the stock only below Rs 420 for a target of Rs 388 in the coming 2-3 weeks.
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Shree Renuka Sugars Ltd.
Recommendation: Sell
Last Close: Rs 69.30
Target: Rs 58.50
Stop Loss: Rs 71
The momentum oscillators on weekly charts suggest possibility of a further breakdown in prices. A fall below Rs 67040 will indicate a fresh breakdown with accelerated momentum. We advise selling Shree Renuka Sugars only below Rs 67.40 for a target of Rs 58.50 in the coming 2-3 weeks.
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Mahindra & Mahindra Ltd.
Recommendation: Buy
Last Close: Rs 712.55
Target: Rs 765
Stop Loss: Rs 701
On daily charts, the stock has taken support at the 200-day SMA. The momentum oscillators suggest possibility of an upside move. We recommend buying this stock only above Rs 721 for a target of Rs 765 in the coming 1-2 weeks. -------------------------------------------------------------------------------------------------------------
Recommendation: Sell
Last Close: Rs 826.10
Target: Rs 760
Stop Loss: Rs 830
On daily charts the Financial Technologies stock has immediate support at an upward sloping trendline near Rs 810. Daily charts indicate a lower-to-lower bottom cycle. Hence, we advise selling the stock only below Rs 810 for a target of Rs 760 in the coming 2-3 weeks.
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