Mar 21, 2013, 08.33 AM IST
On CNBC-TV18's show Super Six, market gurus Rajesh Jain, Religare Sec, 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.
Rajesh Jain, Religare Sec
Tech Mahindra has been forming a distribution pattern on the tops. It has formed a head and shoulder formation on the daily chart and a breakdown has come from there. One can go short in the stock at any counter rally between Rs 1075-1080 keeping a closing stop loss of Rs 1095 for lower targets of Rs 1035.
When the markets are falling Godrej Industries , one of the defensive stocks is holding on. It is forming a consolidation pattern and is likely to breakout on the higher side. One can buy Godrej between Rs 290-292 keeping a stop loss of Rs 286 and target of Rs 305.
Manas Jaiswal, manasjaiswal.com
UCO Bank is making lower tops and lower bottoms on the charts and now it has broken the support of Rs 58 with higher volumes. So we may see further weakness and the stock can test Rs 54 in next one-two trading sessions. One can go short at current levels with a stop loss of Rs 59.
For last 15 days IFCI was trading in a range of Rs 27-30 but now it has broken the same downside with higher volumes. So we may see further weakness in the stock. It can test Rs 25.50 in next one-two trading sessions. One can go short at current levels with a stop loss of Rs 27.30.
Buy Infosys . IT has been in a very strong uptrend and despite the market moving lower we are seeing that IT stocks are doing quite well. Going forward we recommend a buy call for Infosys. The buy range is between Rs 2850-2860, place a stop loss at Rs 2820 and keep a target of Rs 3025 over the next six-eight trading sessions.
Sell Jet Airways . The chart structure on the hourly chart suggests that traders can short the counter below the levels of Rs 540. The stop loss for the trade would be at Rs 550 and the potential intraday target is at Rs 520.
Tags: Rajesh Jain, Religare Sec, Manas Jaiswal, manasjaiswal.com, Shardul Kulkarni, Angel Broking, Tech Mahindra, Godrej Industries, UCO Bank, IFCI, Infosys, Jet Airways
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