Stocks To Watch Today

Arvind Mills:

This stock has been really battered from the highs of a couple of years back, of Rs 140 all the way to Rs 42 levels. The stock is so weak on the charts. It is beaten down and maybe the worst is over for the stock. There are rumours about some land sale to Reliance.

But if you take Rs 42 as your stop loss, which is the recent low, and just hold on to the stock or at least buy it with a target to hold for three to six months, maybe you will have a better chance of making some money. But on the trading point, there will come a lot of levels. The immediate trading target would be around Rs 55 for the stock.

Bank of India:

Bank of India is in a new breakout. It has made a new high today. Rs 235 was the previous stop and now it has taken that out, and Rs 266 is the next target.

Bharti Airtel:

Buy above Rs. 884, Stop Loss 868, Target Rs. 925- 938.

Union Bank:

Union Bank made a major breakout yesterday. It has touched the first major level of Rs 145. But you can buy the fall from Rs 139 to about Rs 135 range for an eventual target of Rs 183.

Dena Bank:

Dena Bank is in a fresh breakout. It made another new high today. There is a medium- term target of around Rs 60 on that.

Suzlon Energy:

It is strong on the monthly, so you can still buy on a fall. Wait for some of the news to settle down before getting in. But it is still an opportunity on the falls.

IFCI:

It is plateauing out a little bit because they have hit major targets. Rs 63-67 is the major target on IFCI. That does not mean it cannot go and make a new high.

Eventually, the stock will fare very well. But maybe in the short run, it needs to retrace a little bit, take a breather and reconsolidate. It is very difficult to find fresh traders for IFCI at Rs 62-63.

Reliance Capital:

Although Reliance Capital was very strong on the longer term charts, Rs 1,180 was a very strong major resistance for that stock.