Ashwani Gujral's top five picks for today's trade

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Ashwani Gujral's top five picks for today's trade

Technical Analyst Ashwani Gujral is bullish on Orchid Chemicals, Punjab National Bank (PNB), Mastek, Zensar Technologies and KPIT Cummins. He advises traders to buy these stocks.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » RELATED NEWS Eveready Industries can go upto Rs 90: Gujral Expert sector picks to power your portfolio ahead ALSO READ See previous views by Ashwani Gujral See what other Experts & Brokerages are saying about Orchid Chemical See messages about Orchid Chemical Orchid Chemical BSE | NSE 10/02/12 Are Mutual Funds betting on Orchid Chemical? Other Stocks in this news Punjab National Bank | Mastek | Zensar Technologies | KPIT Cummins Infosystems | Bajaj Hindusthan | Shree Renuka Sugars | Balrampur Chini Mills | Bharat Petroleum Corporation | GAIL India | Oil India | Gujarat Gas Company | NIIT | NIIT Technologies | ACC | Ambuja Cements | TV Today Network |

Technical Analyst Ashwani Gujral is bullish on Orchid Chemical , Punjab National Bank (PNB), Mastek , Zensar Technologies and KPIT Cummins . He advises traders to buy these stocks.

Here are the key levels to watch out for:

Buy Orchid Chemicals with a target of Rs 202 per share and stop loss at Rs 183 per share.

It moved in a narrow range yesterday and broke out. We can buy this with a stop loss of about Rs 183 and target of Rs 202. The other reason to buy it is that the pharmaceutical tends to do well on choppy days.

Buy PNB with a target of Rs 950 per share and stop loss at Rs 925 per share.

PNB is one public sector undertaking (PSU) bank that is continuing to make fresh highs. So you can buy it with a stop of about Rs 925. It could move to levels of Rs 950 and then over the next few days even higher. So this is the strongest PSU bank.

Buy Mastek with a target of Rs 385 per share and stop loss at Rs 341 per share.

Mastek also made a fresh intermediate high. You could buy this with a stop of about Rs 341 and target of Rs 385. These are momentum trade breakouts happening. Some follow-through is expected today.

Buy Zensar Technologies with a target of Rs 323 per share and stop loss at Rs 293 per share.

Overall on the market, we are doing this narrow range of 5,050-5,110 on the Nifty. When you have these narrow ranges at the top of a move it is never a good sign. The correlation between equity and dollar index is breaking down. When this happens, things will change. Hence, people should keep close stops from here. 

Buy KPIT Cummins with a target of Rs 120 per share and stop loss at Rs 102 per share.

KPIT Cummins moved in a very narrow range at Rs 100 levels. Yesterday, it suddenly moved up 8-10%. Small IT stocks like Mphasis, BFL and Patni have started doing well. So we could get targets of Rs 120 and keep a stop of about Rs 102. The market is right now a low conviction kind of market. So you have to take that on board when you look at these recommendations.

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