On CNBC-TV18's show Super Six, market gurus Parag Doctor, Head - Trading Strategies, Keynote Capital, Manas Jaiwal of manasjaiswal.com and Arunesh Madan of 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.
Parag Doctor, Head - Trading Strategies, Keynote Capital
Colgate Palmolive has had a 10% correction from around Rs 1,250 levels to around Rs 1,125. This stock has bottomed out at that Rs 1,125 support levels and has now started an intermediate uptrend. The stock is low beta defensive name and can be bought with a stop loss Rs 1,135 and a target of Rs 1,200.
Steel Authority of India (SAIL) is struggling to cross the 200 day moving average (DMA) which is around Rs 97. Now it has started an intermediate downtrend. The stock is expected to fall to around Rs 86 levels which was the recent support and can be sold with a stop loss of Rs 95.
Manas Jaiwal of manasjaiswal.com
Yesterday Chambal Fertilizers faced a lot of resistance near to Rs 79 and fell sharply with higher volumes. On the daily chart, it made a bearish engulfing pattern, which is a bearish sign. So we may see further weakness in the stock and the stock can test Rs 70 in next one-two trading sessions. One can go short with a stop loss of Rs 76.50.
Patel Engineering was trending in the range of Rs 94 and Rs 90 for last four and five trading sessions but yesterday it broke this range downside. So we may see further weakness in the stock and the stock can test Rs 83 in next three-four trading sessions, one can go short with a stop loss of Rs 91.
Arunesh Madan of Augment Investment
I have a sell call on Reliance Infrastructure in the range of Rs 500-505 with a stop loss being placed above Rs 518 levels on a closing basis. The stock has seen a bearish pattern on the daily candlestick charts. Expect a 50% retracement of its rise from Rs 430 to Rs 530 and look for a target of Rs 475 in the coming days.
I have a sell call in Jubilant Foodworks in the range of Rs 1,235 to Rs 1,240 with a stop loss being placed above Rs 1,270 levels on a closing basis. The stock has seen a 61.8% retracement of its entire fall from Rs 1,355 to Rs 1,130. In my opinion, the sea-wave to the downside has started, look for a target of Rs 1,130 and Rs 1,075 in the coming days.