Apr 05, 2013, 08.43 AM IST
On CNBC-TV18's show Super Six, market gurus Manas Jaiswal, manasjaiswal.com, Manav Chopra, Nirmal Bang and Rakesh Gandhi, FRR share, place their bets on two stocks each, thus offering investors a variety of options to choose from.
Manas Jaiswal, manasjaiswal.com
Shree Renuka Sugars is making higher tops and higher bottoms on the daily charts; yesterday it broke resistance of Rs 24.50. So, we may see further rally. The stock can test Rs 29 in next two-three trading sessions. One can buy the stock at current levels with a stop loss of Rs 23.50.
After a sharp rally Adani Power witnessed some correction yesterday but this correction is a good buying opportunity with a stop loss of Rs 45. The stock can test Rs 51 in next two-three trading sessions.
Manav Chopra, Nirmal Bang
Reliance Power has been in a downtrend forming a series of lower highs and lower lows and recently the stock has formed a negative reversal pattern at crucial resistance areas. It suggests limited upside from the current levels. The momentum indicators continue to remain in sell mode. There is a very strong resistance at Rs 65 on the upside. One can maintain a sell on rise approach with a stop loss of Rs 66 for a downside target of Rs 60.
Pantaloon Retail has breached a rising trend line drawn from its recent lows, which confirms a short-term trend reversal and resumption of the original trend. The technical parameters has also formed a negative reversal pattern, which suggest limited upside from the current levels. One can maintain a sell with a stop loss of Rs 156 for a downside target of Rs 146.
Rakesh Gandhi, FRR shares
Sesa Goa has been continuously making lower lows and lower high pattern and eventually has broken an important support level of Rs 160. A stock sustaining below Rs 160 would add further selling pressure and hence it can be sold around Rs 150 for a lower target of Rs 135 with a stop loss of Rs 155.
Hindustan Unilever being a defensive stock in bearish phase. It is indicating strength at this point of time. Based on chart perspective if the stock maintains or sustains above Rs 455 there is a strong potential that it could see higher levels and hence a buy call for a target of Rs 495 with a stop loss of Rs 455.
Tags: Manas Jaiswal, manasjaiswal.com, Super Six, Manav Chopra, Nirmal Bang, Rakesh Gandhi, FRR shares, Shree Renuka Sugars, Adani Power, Reliance Power, Pantaloon Retail, Sesa Goa, Hindustan Unilever
Action in Shree Renuka Sugars
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