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6 trading bets that can fetch you handsome returns

Published on Mon, Nov 21, 2011 at 08:34 | Source : CNBC-TV18

Updated at Mon, Nov 21, 2011 at 09:33

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On CNBC-TV18's new show Super Six, market gurus Manas Jaiswal, Technical Analyst of Emkay Global, Nooresh Mirani, Head, AMSEC-Analyse India and Parag Doctor of Motilal Oswal Securitiest, 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.

Manas Jaiswal, Technical Analyst of Emkay Global

In last 7-8 trading sessions Jaiprakash Associates fell sharply from Rs 80 but on Friday it took support near to Rs 60 and witnessed a lot of buying interest. On the daily chart it made a hammer patter, so we may see an upside correction, stock may test Rs 68. One can keep a stoploss of Rs 60.

On Friday ICICI Bank has taken support near to Rs 750 and recovered smartly. On daily charts it made a hammer pattern oscillators are showing positive cross over. So we may see further recovery. The stock can test RS 805. One can buy at CMP with a stoploss of Rs 759.

Nooresh Mirani, Head, AMSEC-Analyse India

Buy Godrej Industries with a target of Rs 200 and stop loss at Rs 175. The stock seems to get a lot of support in the range of Rs 175-185 from where it bounces back sharply to Rs 210-220 levels. So from current levels downside would be limited and the upside can be atleast to a short term target of Rs 200.

Buy Smartlink Network . The stock has given a breakout above Rs 42-43 and it has been holding well in the levels of Rs 47-48 even in falling markets. As well if you look on the other side the stock has almost RS 300-360 cr cash on books. I would expect the stock to go back to Rs 52 in the short term. Traders may keep a stoploss of Rs 42 for the position.

Parag Doctor of Motilal Oswal Securities

We at Motilal Oswal Securities would like to recommend to buy Sintex Industries . This stock has corrected significantly and has now started a short term rally. Stock is expected to move up to Rs 105 which was recent resistance with stoploss at Rs 83.

We would also like to recommend to buy CESC . This stock has very strong multiple supports around the Rs 240 levels. The stock has started a short term uptrend and is expected to move up to Rs 300 levels with stoploss at Rs 240.