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May 10, 2012, 05.18 PM IST
On CNBC-TV18's show Super Six, market gurus Manas Jaiswal of manasjaiswal.com, Rakesh Gandhi of LKP and Sanjeev Agarwal of Dynamix Research & Capital Mgmt, 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 of manasjaiswal.com
My first pick is Yes Bank . Yesterday it has broken an important support of Rs 322 and the 200 day moving average (DMA). So we may see further downside and the stock can test Rs 305 in two-three trading sessions, one can go short at current levels with the stop loss of Rs 327.
My second pick is Alok Industries . For last one month, this stock was facing resistance near to 200 DMA and yesterday it broke the support of Rs 19. So we may see a sharp fall and this stock can test Rs 17.50 in a couple of trading sessions. One can go short with the stop loss of Rs 19.60.
Rakesh Gandhi of LKP
My first pick for the day is short Tata Steel . The stock has closed below its important and critical level of Rs 425 completing a bearish descending triangle formation indicating that stock would see further lower levels and hence can be shorted for a target of Rs 390 with a stop loss of Rs 430.
My second pick for the day is short United Spirits . After rallying from Rs 500 to the level of Rs 800 level, it has formed a double top formation having a neckline at Rs 670 and yesterday it has closed below the neckline of Rs 670 and hence indicating that it could see further lower levels and it could be shorted for a target of Rs 600 with a stop loss of Rs 675.
Sanjeev Agarwal of Dynamix Research & Capital Management
My first stock for today is Orchid Chemicals . This stock is taking very good support at Rs 165. We can accumulate it at current market price of around Rs 172 and upto Rs 170 or even little below that. We can look for the target of around Rs 185 to Rs 192 with a stop loss below Rs 165.
My second stock for today is Welspun Corp . we can buy it at current market price of around Rs 119-120 with a stop loss below Rs 114 for the target of Rs 135. Once this stock crosses Rs 140, we can see this stock moving to a high above Rs 160 also.
Tags: Manas Jaiswal of manasjaiswal.com, Yes Bank, Alok Industries, Rakesh Gandhi of LKP, Tata Steel, United Spirits, Sanjeev Agarwal of Dynamix Research & Capital Management, Orchid Chemical, Welspun Corp
May 22 2013, 13:11
- in MARKET OUTLOOK
May 22 2013, 10:44
- in Economy