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Feb 21, 2013, 09.23 AM IST
On CNBC-TV18's show Super Six, market gurus Vishal Malkan, malkansview.com, Manas Jaiswal, manasjaiswal.com and Shardul Kulkarni, Angel Broking, place their bets on two stocks each, thus offering investors a variety of options to choose from.
Sell State Bank of India (SBI). It has formed some resistance around Rs 2300 levels, formed bearish candlestick pattern on hourly chart. Hourly momentum is bearish. I recommend a sell with a stop loss of Rs 2290 for target of Rs 2230-2210.
Buy Bharat Petroleum Corporation (BPCL). It has formed double bottom at the level of Rs 370 and moved up forming bullish candlestick pattern on daily chart. Hourly momentum is bullish. Buy BPCL with a stop loss of Rs 387 for target of Rs 402-410.
Financial Technologies has made a strong base near to Rs 900 and bounced back sharply. Yesterday it broke the resistance of Rs 960 with higher volumes. Now stock can test Rs 1000 in next one-two trading sessions. One can buy the stock at current levels with a stop loss of Rs 950.
Petronet LNG has broken the neckline of inverse head and shoulder pattern on the intraday chart with higher volumes. Now we may see further recovery. Stock can test Rs 160 in next one-two trading sessions. Buy this stock at current levels with a stop loss of Rs 152.50.
Sell Federal Bank . The chart structure of Federal Bank clearly shows a very strong head and shoulder breakdown below the levels of Rs 497-498. We recommend selling the stock below the levels of Rs 498 on February Futures contract for a target of Rs 470. The stop loss for the trade would be at Rs 507.
Sell Hindalco Industries . The chart structure shows a very strong lower top lower bottom cycle and going forward we expect the stock to move further lower in the coming trading sessions. Sell Hindalco below the levels of Rs 111 on February Futures contract. The stop loss for the trade would be at Rs 113.5 and the target is at Rs 104.
Tags: Vishal Malkan, malkansview.com, Manas Jaiswal, manasjaiswal.com, Shardul Kulkarni, Angel Broking, Super Six, State Bank of India, SBI, Bharat Petroleum Corporation, BPCL, Financial Technologies, Petronet LNG, Federal Bank, Hindalco Industries
Action in State Bank of India
May 23 2013, 16:33
- in Asian markets
May 23 2013, 09:33
- in Technicals