On CNBC-TV18's show Super Six, market gurus Vishal Malkan, malkansview.com, Shardul Kulkarni, Sr Technical Analyst, Angel Broking and Arunesh Madan, Augment Investment, place their bets on two stocks each, thus offering investors a variety of options to choose from. Investors can read into the detailed analysis before agreeing to any or all the bets.
Vishal Malkan, malkansview.com
Sell Jindal Steel & Power Limited (JSPL). It has broken an important support of Rs 385 and it has started tagging on the lower bollinger band on daily charts. I recommend a sell with a stop loss of Rs 387 for target of Rs 370 and 365.
Sell Tech Mahindra. It has formed a bearish candlestick pattern on daily charts. Hourly momentum is bearish. Sell it with a stop loss of Rs 1000 with target of Rs 975-965.
Shardul Kulkarni, Sr.Technical Analyst, Angel Broking
Sell Coal India. The stock has been in a very strong lower top lower bottom cycle over the past two months and we see that the candlestick pattern formed over the last three trading sessions indicates bearishness in the coming trading sessions. Thus sell Coal India February Futures in the range of Rs 343 to 345, place a stop loss at Rs 350.25 and trade bearish for a target of Rs 320 over the next six-eight trading sessions.
Sell Yes Bank. The chart of Yes Bank shows a clear head and shoulder formation at a significant market top. Going forward any fall in case of the stock below Rs 498 on February Futures contract may result in further selling pressure. We recommend going short below Rs 498, place a stop loss at Rs 507 and trade bearish for a target of Rs 475 over the next 7-10 trading sessions.
Arunesh Madan, Augment Investment
Canara Bank has formed a bullish pattern on daily candlestick charts in yesterday’s trade. Look to buy this stock on any pullback in the range of Rs 454-457 keeping a stop loss below the Rs 450 on a closing basis. Going forward we can expect a target of Rs 470 and 475.
Bajaj Auto has closed below its 100 day moving average in yesterday’s trade. Look to short this stock in the region of Rs 1945-1955 by keeping a stop loss above Rs 1965 levels on a closing basis. Going forward we can expect a target of Rs 1910-1870.