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Check out: Top chart picks by market experts

In an interview to CNBC-TV18, Sudarshan Sukhani of s2analytics.com, SP Tulsian of sptulsian.com and Hemant Thukral, Aditya Birla Money give top pick for the day.

April 03, 2013 / 09:54 IST
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In an interview to CNBC-TV18, Sudarshan Sukhani of s2analytics.com, SP Tulsian of sptulsian.com and Hemant Thukral, Aditya Birla Money give top pick for the day.

Sudarshan Sukhani, s2analytics.com
Markets are in a cheerful uptrend and we should be looking at buying opportunities. Ideally we want to stay with good quality stocks or stocks that have some news to back them on technical patterns. Since I am looking mainly at technical patterns I think we should be looking at United Breweries for buying today. UBL has completed a bullish head and shoulder and it is on the verge of breaking out above its neckline. That is a good pattern to trade in. It tells us that the breakout if it comes about will not be a one-two day wonder. There is a significant up move possible here. So traders can actually begin with a trade in the morning or in the day and then carry it forward once it works out. So UBL is a buying opportunity, watch it carefully and look for mildest of up moves in the morning and if it comes about, go long there.
A buying opportunity is coming in the pharma sector in the form of Dr Reddys Laboratories. Consider buying Dr Reddys for today. It has given a sharp correction then built a base after the correction giving us a perfect head and shoulder bullish pattern. This pattern is breaking out on the upside, so what we have is a base and that would take Dr Reddys all the way back to its earlier highs. There is a significant upside possible. Start with the day and see how long you can carry it forward. Consider buying Dr Reddys on the basis of a bullish technical pattern. SP Tulsian, sptulsian.com Punjab National Bank (PNB) now ruling at Rs 743 looks a good buy because all the PSU banking stocks are looking quite good and the larger ones like PNB, Bank of Baroda, State Bank of India (SBI), Canara Bank are going to be having an extra advantage in terms of the hopes of the rate cuts and fresh buying seen in all these stocks. PNB can be expected to touch a level of about Rs 785-790 in this series. So, one can keep a buying interest on the stock with a time horizon of about three weeks or so. Hemant Thukral, Aditya Birla Money
From March to April series Punj Lloyd saw aggressive rollover with an aggressive rollover cost clearing implying that long positions were being rolled. Now after Mondays small correction the stock has started its northward journey yesterday along with fresh open interest to the tune of 7 percent being built up. So in immediate short-term we expect Punj Lloyd to retest Rs 59-60 zone. Union Bank of India has seen exception open interest being built up of 10 percent with a premium cost moving up clearly telling that long open interest is coming in the counter. Technically the stock has managed to trade above Rs 223-224 zone which was acting as a resistance zone. So in immediate short-term we expect this stock to retest higher stiff resistance zones of Rs 235-236. Traders have to keep a stop loss of Rs 218 in Union Bank.
first published: Apr 3, 2013 08:41 am

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