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Jul 30, 2012, 09.51 AM IST
On CNBC-TV18's show Super Six, market gurus Vishal Malkan CMT, Vishal Kshatriya of Edelweiss and Sanjeev Agarwal of Dynamix Research & Capital Management , place their bets on two stocks each, thus offering investors a variety of options to choose from.
Grasim Industries is a buy call. It has shown some good momentum on hourly charts along with price tagging the upper Bollinger band. The sector is already outperforming. I recommend a buy with a stop loss of Rs 2680 for target of Rs 2725 and Rs 2740.
Buy Tata Steel . It has formed a bullish candlestick pattern on daily charts. Hourly momentum is bullish with huge volumes. I recommend a buy with a stop loss of Rs 395 for targets of Rs 405 and 408.
Vishal Kshatriya of Edelweiss
First pick is short call on Axis Bank . Stock has given a trend line breakdown along with good volumes on daily charts. Momentum oscillators continue to trade with a negative bias. I expect stock to test Rs 950 in days to come and hence short term traders can short in a range of Rs 995 to Rs 1005 with target of Rs 950, maintaining stop loss above Rs 1030.
Short Kotak Mahindra Bank . Stock has given a trend line breakdown with good volumes on its daily charts. Besides this stock continue to trade below a short-term moving averages, which clearly indicates a negative trend in the counter. Open interest data indicates short buildup in the counter in previous trading sessions. I recommend traders to go short in a range of Rs 535-540 with target of Rs 510 and stop loss above Rs 555.
Sanjeev Agarwal of Dynamix Research & Capital Management
Buy Grasim Industries . Cement pack has been showing very good strength for last few days and Grasim is no exception. We can buy Grasim at current market price for a target of Rs 2750 to Rs 2790 with a stop loss below Rs 2660.
Buy Sesa Goa . We can buy this stock at current market price for a target of Rs 189 to 194 and stop loss below Rs 180.
Tags: Vishal Malkan CMT, , Vishal Kshatriya of Edelweiss, Sanjeev Agarwal of Dynamix Research & Capital Management, Grasim Industries, Tata Steel, Axis Bank, Kotak Mahindra Bank, Sesa Goa
Action in Grasim Industries
Jun 19 2013, 23:15
- in MARKET OUTLOOK
Jun 19 2013, 12:44
- in MARKET OUTLOOK