Check out the experts' view on Delta Corp, Bata, ICICI Bank and Exide Ind for trade today.
Vishal Kshatriya sr. derivative and technical analyst at Edelweiss recommends traders to go long on Delta Corp . “Yesterday, the stock breached its recent high of Rs 100 along with huge volumes. Besides this, derivatives data indicates that aggressive longs positions have been built up” he said to CNBC-TV18. Therefore, he is expecting the stock to trade with a positive bias in coming days. He advices traders to go long in the September futures contract in the range of Rs 105-107 with target of Rs 115 with a stop los of Rs 100.
His second pitch is to go short on Bata India . The stock breached its key support zone along with good volumes yesterday and hence he expects the stock to trade with a negative bias in days to come. He advices traders to go short in the September futures contract in the range of Rs 685-695 with a target of Rs 650 and a stop loss above Rs 710.
According to A Kalyan C Reddy, derivatives and technical analyst at Karvy Stock Broking, ICICI Bank is one of the heavy weights from the banking sector which has seen significant addition of long positions Therefore, he advices traders to buy ICICI bank with a stop loss of Rs 890 and a target of Rs 925-1000 levels.
Apart from that, he has picked up Exide Industries for a short position because of extreme weakness coming into the stock. He maintains initial target of Rs 140, with a stop loss of Rs 150.
Watch the accompanying video for full details.
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Dont see mkt going anywhere now; like Bharat Forge: Dipen