Sudarshan Sukhani's top five picks for trade today

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Sudarshan Sukhani's top five picks for trade today

Sudarshan Sukhani of Technical Trends is bullish on GE Shipping, Rain Commodities, Subros, Sterlite and Tech Mahindra. He advises investors to buy these stocks.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » RELATED NEWS Stocks in news: L&T, Infy, Deccan Gold, NTPC, REC, SBI Mkts to make intermediate highs before budget: PN Vijay Stocks in news: Great Off, Tulip Tele, Infy, Ashok Ley, REC Stocks in news: Tata Motors, Sun Pharma, Great Off, HDFC ALSO READ See previous views by Sudarshan Sukhani See what other Experts & Brokerages are saying about GE Shipping See messages about GE Shipping GE Shipping BSE | NSE 29/05/12 Are Mutual Funds betting on GE Shipping? Other Stocks in this news Rain Commodities | Subros | Sterlite Industries (India) | Tech Mahindra | Jet Airways | SpiceJet | Kingfisher Airlines | IndusInd Bank | Rolta India | Unitech | Bharati Shipyard | Suven Life Sciences | Ranbaxy Laboratories | Sun Pharmaceutical Industries | Dr Reddys Laboratories |

Sudarshan Sukhani of Technical Trends is bullish on GE Shipping , Rain Commodities , Subros , Sterlite and Tech Mahindra . He advises investors to buy these stocks.
Here are the key levels to watch out for:

Buy GE Shipping with a target of Rs 292 per share and stop loss at Rs 274 per share.

Shipping keeps on coming on my radar. Earlier it was Shipping Corporation of India (SCI) which did well, now it is GE. It suggests that it is at a point at which it could breakout. GE Shipping is a buying opportunity with a stop at Rs 274 and a target at Rs 292.

Buy Rain Commodities with a target of Rs 184 per share and stop loss at Rs 165 per share.

Rain Commodities has gone up and is consolidated. Stocks that are either in a dip or in a consolidation are generally the most appropriate swing trading ideas. So Rain Commodities qualifies on both those counts. It is a dip, a consolidation and probably a next move on the upside. Buy this stock with a stop loss of Rs 165 per share and target of Rs 184 per share. Assuming that this market will go through a small correction, these stocks will not outperform. However, the breakouts are just postponed by a day or two days. The traders can safely watch these stocks in any case.

Buy Subros with a target of Rs 46.50 per share and stop loss at Rs 42 per share.

I must warn you that the volumes in Subros are relatively low. Hence, there is a problem with smallcap stocks in general. This caveat needs to be kept in mind. However, Subros seems to be going through a trading range and a possible move to the highs is quite easy. One should always remember that low volume smallcap stocks have their own problems. If you are a positional or a day trader, there are opportunities. The target is Rs 46.50 per share and stop loss is at Rs 42 per share.

Buy Sterlite with a target of Rs 975 per share and stop loss at Rs 870 per share.

Sterlite is already touching new highs in this run. It has seen a very minor dip. It is on the verge of a tipping point where it can cross Rs 1,000 levels. Inspite of the general weakness, there is a buying opportunity here. Traders have to ensure that they do not rush into buy at the opening. They have to wait a little but beyond that Sterlite is a buy. It also has the power to cross Rs 1,000 and go much higher. Sterlite is a buy at a stop loss of Rs 870 per share and target of Rs 975 per share.

Buy Tech Mahindra with a target of Rs 990 per share and stop loss at Rs 915 per share.

Tech Mahindra has gone through a deep correction for all the news that started affecting Satyam. Beyond that, the stock is good. After the correction, it is fair to expect that a bounce will come. Yesterday it gave the first sign that it is not going lower. This could probably mean that the things are looking better for it now in the short-term. So Tech Mahindra is a buy with a target of Rs 990 per share and stop loss at Rs 915 per share. Once the stock actually starts moving up, it is not just Rs 990. Positional traders can anticipate much higher level.