Sudarshan Sukhani's top five picks for today's trade

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Sudarshan Sukhani's top five picks for today's trade

Sudarshan Sukhani of Technical Trends is bullish on Dabur India, Chambal Fertilisers, Bharat Petroleum Corporation Limited (BPCL), Mangalam Cements and Orchid Chemicals.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » RELATED NEWS Buy capital goods, textile on decline: astrostocktips Tata MF, Angel Broking stock/sector portfolio must-haves ALSO READ See previous views by Sudarshan Sukhani See what other Experts & Brokerages are saying about Dabur India See messages about Dabur India Dabur India BSE | NSE 29/05/12 Are Mutual Funds betting on Dabur India? Other Stocks in this news Chambal Fertilisers and Chemicals | Bharat Petroleum Corporation | Mangalam Cement | Orchid Chemicals and Pharmaceuticals | Ambuja Cements | Grasim Industries | ACC | Lanco Infratech | Essar Oil | Kotak Mahindra Bank | Bombay Dyeing and Manufacturing Company | Aban Offshore | Tata Motors |

Sudarshan Sukhani of Technical Trends is bullish on Dabur India , Chambal Fertilisers , Bharat Petroleum Corporation Limited (BPCL), Mangalam Cements and Orchid Chemicals .

Here are the key levels to watch out for:

Buy Dabur with a target of Rs 179 per share and stop loss at Rs 170 per share.

Dabur has been going up consistently. From sub Rs 100 levels it has now reached Rs 170. In January and February, when the Nifty was going through a correction, Dabur was going through a consolidation. So it was strong enough not even to correct, it didn't even go down, it just moved sideways. According to me, it is going to come out of the sideways movement. We have seen ITC do a little bit but Dabur is an out performer. So if it breaks out of the consolidating range, it should head for Rs 200 and it is already doing this life time highs. It is a stock you want to own as an investor also.

Buy Chambal Fertilisers with a target of Rs 66 per share and stop loss at Rs 59 per share.

It went up before the Budget and then it got down at a very decent dip. For the last few days, it's moving in a very narrow trading range. The trading range is going to break out on the downside or upside and it would be reasonable to assume that the break out will be on the upside, it is at very good support. So Chambal is a buying opportunity for the intra- day traders. Look at it and buy it at first sign of strength and also for the swing traders who want to keep it for a few days. So that is a good idea to enter on the long side.

Buy BPCL with a target of Rs 555 per share and stop loss at Rs 530 per share.

The reason why BPCL is a buy for me today is because it went and tested its earlier low and it did not break it. So here is a stock that has moved down. We all know that but it's not breaking a previous low that is information of some technical significance. If we actually catch it now and the uptrend resumes this would be one very nice example of buying all most at the low. So BPCL is a buy because the test has been successful so far of the previous lows.

Buy Mangalam Cements with a target of Rs 180 per share and stop loss at Rs 163 per share.

Ambuja , Grasim and ACC are also looking fairly decent on the charts. Mangalam was picked up because the impression is that now it's ready to make life time highs. It is a much smaller company but it has been showing relative strength versus the other cement companies. Yesterday's price action suggested that there is likely to be some follow through on the upside and once it rolls it could go much higher. So the volumes are much lower but it's interesting.

Buy Orchid Chemicals with a target of Rs 178 per share and stop loss at Rs 164 per share.

This stock went up on news. It crossed Rs 200 and then pulled back, which is why I always suggest wait patiently. Now that patience should be rewarded, it's moving up in a trading range, it's moving up and down and the sense is that the decline is over. We are likely to see resumption of the upmove. It is in an uptrend since it bottomed out around Rs 110-120. So it's likely to breach the Rs 200 levels. This is for the position traders. For intra day traders you go for it and look to buy it at any opportunity.