Following technical calls have been recommended by ICICIdirect for intra-day trade today.
1. Tech Mahindra
'Buy' in the range of 2,468-2,472 with target of Rs 2,502-2,520 higher and stop loss Rs 2452.
Comment: A trendline breakout joining previous highs and price bounced back taking support near the 21 days EMA and stochastic giving buy signal in the daily chart.
2. Asian Paint
'Buy' in the range of 662-664 with target of Rs 674-679 higher and stop loss Rs 658.
Comment: Falling channel breakout in the daily chart and price bounced back taking support at the 21 days EMA and bullish crossover of the 14 periods RSI in the daily chart.
3. Arvind Mills
'Sell' below 316.50 with target of Rs 310.50-307.50 lower and stop loss Rs 319.70.
Comment: Bearish Engulfing candlestick pattern at the 78.6% retracement of the previous up move and MACD giving sell signal in the daily chart.
Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.