Podcast | Stock Picks of the Day: Dr Reddy’s, Tech Mahindra among top 3 intraday trading ideas

Tech Mahindra Ltd: Buy| Target: Rs 730| Stop Loss: Rs 700| Return 2%

The stock was up nearly 4 percent in an intraday trade on Wednesday with good volumes in a one-sided bearish market. It closed near today’s high which is a bullish sign.

The stock is trading at trend line resistance level on the daily chart. We expect it will continue the rally and recommend buying the stock at the current level for the target of Rs 730 and a stop loss below Rs 700.

Dabur India Ltd: Buy| Target: Rs 400| Stop Loss: Rs 390| Return 1.78%

The stock has given a breakout from its 52-weeks high with huge volumes on closing basis in a bearish market today. We recommend buying the stock at the current level for a target of Rs 400 and a stop loss of Rs 390.

Dr Reddy's Laboratories Ltd: Buy| Target: Rs 2,330| Stop Loss: Rs 2,245| Return 1.9%

The stock was up with good volumes which is a sign of strength in an otherwise weak market. The stock took the support at its 200-EMA & SMA on the daily chart.

We recommend buying the stock at the current level for a target of Rs 2,330 and a stop loss of below Rs 2,245 on a closing basis on the daily chart.