Feb 27, 2013, 09.12 AM IST
On CNBC-TV18's show Super Six, market gurus Manas Jaiswal, manasjaiswal.com, Rajeev Agarwal, dynamixresearch.in and Vikrant Jadeja, vibranttrades.com, place their bets on two stocks each, thus offering investors a variety of options to choose from.
ICICI Bank is making lower tops and lower bottoms on the daily chart. Now, the stock has broken the support of Rs 1,075 with higher volumes. So, it can test Rs 1,030 in next one-two trading sessions. One can go short at current levels with a stop loss of Rs 1,080.
Reliance Power has broken an important trendline support. So we may see further weakness in the stock. It can test Rs 73 in next one-two trading sessions. One can go short at current levels with a stop loss of Rs 79.
Rajeev Agarwal, dynamixresearch.in
My first call is a sell on Power Finance Corporation (PFC). One can attempt shorts here and add more shorts in any pullback towards Rs 203. Keep a stop loss above Rs 210 on closing basis. My initial target is Rs 187 and next logical target is Rs 175 in short-term.
My second call is a sell on Reliance Infrastructure . One can attempt shorts here with closing stop loss above Rs 485. My initial target is Rs 435 and very soon we may see Rs 410-415 level in this counter.
Tata Chemicals has fallen continuously from the levels of Rs 370 to almost Rs 330 in last one month. It has found multiple supports around levels of Rs 329 and also in last trading session, it has bounced from these levels. We can expect higher levels in this counter soon. Buy Tata Chemicals around Rs 332 with closing stop loss of Rs 328.50. Expect a target of Rs 340 in next two-three trading sessions.
Biocon has tried to breach the level of Rs 290 on the upside multiple times but it could not and ultimately it broke on the downside. Sell Biocon futures around Rs 279 with closing stop loss of Rs 285 and expect a level of Rs 272- 270 in next two-three trading sessions.
Tags: Manas Jaiswal, manasjaiswal.com, Rajeev Agarwal, dynamixresearch.in, Vikrant Jadeja, vibranttrades.com, ICICI Bank, Reliance Power, Power Finance Corporation, PFC, Reliance Infrastructure, Tata Chemicals, Biocon
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