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Jul 12, 2012, 08.23 AM IST
On CNBC-TV18's show Super Six, market gurus Manas Jaiswal, manasjaiswal.com, Vishal Kshatriya, Edelweiss and Sanjeev Agarwal, CEO, Dynamix Research & Capital, place their bets on two stocks each, thus offering investors a variety of options to choose from.
Manas Jaiswal, manasjaiswal.com Educomp is continuously making higher tops and higher bottoms on the daily charts and yesterday after making a low of Rs 165 the stock bounced back sharply with higher volumes. So, one can buy the stock at current levels with a stop loss of Rs 167. I think the stock can test Rs 185 in next one or two trading sessions. Second pick is IVRCL . After making a high of Rs 55, the stock fell sharply but yesterday it took support at lower levels and witnessed some buying interest. So, one can buy the stock at current levels with a stop loss of Rs 49. I think the stock can test Rs 55 in next one or two trading sessions.
Vishal Kshatriya, Edelweiss My first pick for the day is going long on Sterlite Industries . Yesterday stock managed to bounce back from its neckline support of inverse head and shoulder pattern formed on its daily charts. Besides this open interest data also indicates long build up in the stock. This clearly indicates that there is an emerging demand for the stock near its support level. I would recommend going long at the current market price with target price of Rs 116 maintaining stop loss at Rs 104. My second pick for the day is going long on Hindalco Industries . Stock has given inverse head and shoulder pattern breakout along with good volumes on its daily charts. Oscillators on daily charts have also given a buy signal. I expect the stock to trend with a positive bias and hence recommend going long at current market price with a first target of Rs 134 and a final target of Rs 136 maintaining stop loss at Rs 124.
Sanjeev Agarwal, CEO, Dynamix Research & Capital Axis Bank has given a very strong breakout above Rs 1,050 yesterday and we can buy it at current market price and any decline towards Rs 1,050 with a stop loss below Rs 1,020 for a target of Rs 1,130-1,180. My second stock for the day is HCL Technologies . This share had given a very strong breakout yesterday above Rs 495. We can buy it at current market price with a stop loss below Rs 480 for a target of Rs 522.
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