Bet on ICICI, UB, India Cements, Dish TV: Experts

Sudarshan Sukhani of s2analytics.com, SP Tulsian of sptulsian.com and Hemant Thukral of Aditya Birla Nuvo suggest top picks for the day.

Sudarshan Sukhani, s2analytics.com
A lot of focus should now come on the banks where a big news event is expected next week. Among the public sector undertaking (PSU) banks, there are a lot of selling opportunities. I would suggest considering going short in Canara Bank. The Canara Bank stock price chart tells us a consolidation was going on and that trading range consolidation has broken on the downside telling us that lower levels are coming. Keep a stop loss and keep the context of the market in mind. If the market opens strong or starts moving, one can avoid the short sell till appropriate context develops.
Consider buying ICICI Bank. A lot of PSU banks have been weak while ICICI Bank continuing with the decline in banks finally found some support in the form of narrow trading ranges. Narrow trading ranges in a directional move tell us that the directional move is now getting exhausted and the stock may be getting ready for a bounce on the other side. With this in view, if one sees slightly steady markets, look at ICICI Bank and consider buying it. SP Tulsian, sptulsian.com United Breweries ruling at Rs 670 looks a good buy because the stock has seen a good amount of corrections having taken place in this last 2-3 days. Going forward, I think the value buying is coming and that is the indication which we got from the accumulations, which we have seen in the stock in these last two days. And this trend of buying may continue for sometime which can make the stock to move to a level of Rs 725-730 in next 8-10 days. Hemant Thukral, Aditya Birla Nuvo
First stock strategy for the day would be on India Cements. It is a midcap cement counter. We saw that the stock after touching a 52-week low of Rs 58 has seen consolidation around those levels of Rs 58-60 levels. Technically it has managed to cross above Rs 62-63 band, which was acting as a stiff resistance and it is on the back of increased open interest (OI) to the tune of 6 percent in F&O clearly suggesting that long positions have been built up from the lower levels. So an immediate short-term we recommend to go long on India Cements keeping a stop loss of Rs 60 and a target of Rs 70-72 band where we expect next resistance levels to face in.
Second stock strategy is on a media midcap stock, which is Dish TV; again a midcap that has seen a lot of buying interest developing on Thursday. Dish TV has managed to hold on to very strong weekly support levels around Rs 60-61. On Thursday, it has managed to cross above Rs 63 level, which is also the 20-days moving average. Again OI has been added up 9 percent on the long side clearly telling that long positions have been roped in at the lower levels. In immediate short-term we expect this stock to retest Rs 72-73 band keeping a stop loss of Rs 58, one should go long on this counter.