22 July, 2014 19:53 IST
News
`Long` Kotak Bank, Sun TV, Tata Power, Titan, Unitech: SMC Global
Source: IRIS (21-NOV-12)
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Mudit Goyal, technical analyst, SMC Global Research has selected following 5 stocks as intra-day technical picks for November 22:

Kotak Bank (Long)

'Buy' stock for target of Rs 640-647 with stop loss of Rs 621.

Stock is moving sideways from past few sessions which lead to form the "Inverted Head and Shoulder" formation on daily charts which is considered to be bullish. So one can initiate long for the upside target of Rs 640-647 with SL of Rs 621.

Sun TV (Long)

'Buy' stock for target of Rs 394-400 with stop loss of Rs 378.

Stock continued to move higher while trading in higher highs and higher lows on daily charts which is bullish in nature. As technically required, it is comfortably trading above its 200EMA on daily charts which gives the positive outlook of stock. On Wednesday, stock has registered a fresh 52 week high with good volume so we anticipate that the buying momentum can continue for coming sessions which suggest the upside target of Rs 394-400 with SL of Rs 378.

Tata Power (Long)

'Buy' stock for target of Rs 103-104 with stop loss of Rs 98.

After giving a decent upmove, stock was faced some selling pressure from its recent high of 109 and tested 96 in single downward journey. On Wednesday, stock went up by over 1.5% and formed the base for further upside rally so we can initiate long for the upside target of Rs 103-104 with SL of Rs 98.

Titan (Long)

'Buy' stock for target of Rs 305-308 with stop loss of Rs 294.

Short term and medium term bias remains positive for the stock. On Wednesday, stock went up by over 2.5% with good volume so we anticipate that buying momentum can continue for coming sessions which suggest the upside target of Rs 305-308 with SL of Rs 294.

Unitech (Long)

'Buy' stock for target of Rs 27.50-28 with stop loss of Rs 23.80.

Stock is trading in the stiff range of 23-27 levels from past few weeks which lead to form the cup and handle formation on daily charts which is a continuation pattern which indicates that the old trend is intact and new move is going to start. Therefore, one can initiate long for the upside target of Rs 27.50-28 with SL of Rs 23.80.

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