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Aug 30, 2012, 09.25 AM IST
On CNBC-TV18's show Super Six, market gurus Manas Jaiswal of manasjaiswal.com, Rajesh Jain of Religare Securities and Shardul Kulkarni of Angel Broking, place their bets on two stocks each, thus offering investors a variety of options to choose from.
Buy Dabur India . The stock is making higher tops and higher bottoms on the daily charts and yesterday it broke the resistance of Rs 124 with higher volumes. So now it can test Rs 131 in next 1-2 trading sessions. One can buy it with a stop loss of Rs 122.
Buy Oriental Bank of Commerce . The stock has taken support near Rs 210 and recovered smartly. On the hourly chart it witnessed some reversal pattern. So we may see further recovery in the stock and it can test Rs 225 in next 1-2 trading sessions. One can buy it with a stop loss of Rs 209.
Rajesh Jain of Religare Securities
Buy Ranbaxy Laboratories . The stock has outperformed Nifty quite well in the recent past and has been holding on in the falling markets and rather going up. It is still looking strong. One can buy the stock around Rs 548-550 keeping Rs 542 as a stop loss for a target of Rs 565 plus.
Sesa Goa has been falling along with the other metal counters. Now the stock is trading near its six month lows and has been underperforming. One can short the stock at any counter rally near Rs 174-176 levels keeping Rs 180 as a stop loss for a target of Rs 165.
Buy HeidelbergCement India . The chart structure on this stock is a strong, higher top and higher bottom cycle and despite the market being negative, the stock has outperformed. Thus we recommend buying this stock above Rs 42.50, place a stop loss at Rs 40.50 and target of Rs 47-49 over the next 4-8 trading sessions.
Sell Sintex Industries . The chart structure of Sintex indicates is a very strong continuation pattern breakdown. We recommend selling it below the levels of Rs 54, stop loss at Rs 57 and trade bearish for a target of Rs 44.
Tags: Manas Jaiswal of manasjaiswal.com, Rajesh Jain of Religare Securities, Shardul Kulkarni of Angel Broking, Dabur India, Oriental Bank of Commerce, Ranbaxy Laboratories, Sesa Goa, HeidelbergCement India, Sintex Industries
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