On CNBC-TV18's show Super Six, market gurus Manav Chopra of Nirmal Bang, Rajesh Jain of Religare Sec and Rakesh Gandhi of FRR shares, 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.
Manav Chopra of Nirmal Bang
Kotak Mahindra Bank has been on a rising channel pattern and recently after taking support at its long-term averages the stock has breached the falling resistance line from its recent highs. It has a strong support at Rs 625 on the downside. One can maintain a stop loss of Rs 620 with a target of Rs 665.
TV Today Network after a long-term decline has breached a bullish inverted head and shoulder pattern with a big bullish candle accompanied by sharp volumes. One can maintain a buy on dips approach with a stop loss of Rs 82 with a target of Rs 94.
Rajesh Jain of Religare Sec
Yesterday when the Nifty was under selling pressure, Shasun Pharmaceuticals saw buying in it. The stock being a defensive counter in a volatile market can be a good bet. One can buy the stock at its current price keeping a closing stop loss of Rs 147 for higher targets of Rs 165 to be achieved in coming trading sessions.
Yesterday FMCG stocks and especially tea stocks saw a good amount of buying in a falling market. Mcleod Russel (India) was up on good volumes. One can buy the stock near Rs 315 which is its strong support zone keeping a closing stop loss of Rs 310 for higher target of more than Rs 330 in coming days.
Rakesh Gandhi of FRR shares
Adani Enterprises has been remaining above Rs 200 level since last more than a month and while remaining in this consolidation phase it has formed a triangular pattern and the volumes are also decreasing, while this pattern was forming in the last more than a month. The stock has seen a breakout from this pattern yesterday tagging the upper end of the Bollinger band with a rise in volume indicating that momentum will pickup and hence the stock can be bought for a target of Rs 260 with a stop loss of Rs 225.
After making a high of Rs 3,500 Grasim Industries has been drifting in sideways while drifting in these few days it has formed a bearish head and shoulder pattern. The neckline of this pattern is at around Rs 3,300 and yesterday it broke below Rs 3,300 level and closed well below that. The stock can be sold in futures for a target of Rs 3,050 with a stop loss of Rs 3,350.