Mar 20, 2013, 08.44 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
Colgate is a stock, which has been holding very strong above its 200 day moving average (DMA) and is likely to move up. One can go long in the stock and accumulate between Rs 1,320 and Rs 1,325 levels, which is an important support for it maintaining a closing stop loss of Rs 1,300 for higher target of more than Rs 1,380 levels in coming few days.
Tata Steel has also taken a sharp fall and from there it has rebounded but it failed to cross its declining trendline. One can go short in the stock at any counter rally between Rs 343 and Rs 345 levels keeping a closing stop loss of Rs 348 for lower target of Rs 330.
Manas Jaiswal, manasjaiswal.com
Power Finance Corporation (PFC) has broken the support of Rs 185 and the 200 day moving average (DMA). So, we may just further fall and stock can test Rs 175 in next one-two trading sessions. One can go short at current levels with a stop loss of Rs 187.
Rural Electrification Corporation (REC) is making lower tops and lower bottoms on the daily chart. Yesterday, it broke the support of Rs 210 with higher volumes. So, we may see further fall. The stock can test Rs 198 in next one-two trading sessions. One can go short at current levels with a stop loss of Rs 210.
The first stock that we recommend is a sell call with regards to Zee Entertainment . The chart structure shows a good strong lower top-lower bottom cycle and going forward, we expect the next leg of the down move to begin soon. Thus we recommend selling Zee Entertainment March futures contract in the range of Rs 214 to Rs 216, place a stop loss at Rs 218.50 and trade bearish for a target of Rs 200 over the next six-eight sessions.
The second stock that we recommend is a buy call with regards to CESC . The chart structure of CESC has clear indications that the stock is poised to move higher. Despite yesterday’s down move, we have seen that the stock has closed in the green. Buying is recommended only and only above the levels of Rs 296. Buy above Rs 296, place a stop loss at Rs 288 and trade bullish for a target of Rs 312 over the next six-eight sessions.
Tags: Rajesh Jain, Religare Sec, Manas Jaiswal, manasjaiswal.com, Shardul Kulkarni, Angel Broking, Colgate, Tata Steel, Power Finance Corporation, PFC, Rural Electrification Corporation, REC, Zee Entertainment, CESC
Action in Colgate Palmolive (India)
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