On CNBC-TV18's show Super Six, market gurus Vishal Malkan of malkansview.com, Rajesh Jain, Religare Securities and Manas Jaiswal of manasjaiswal.com, place their bets on two stocks each, thus offering investors a variety of options to choose from.
Manas Jaiswal of manasjaiswal.com
My first pick is Divis Labs . Yesterday it took support at Rs 800 and bounced back sharply. It broke the resistance of Rs 878 with higher volumes. Now it is a clear breakout and the stock can test Rs 920 in couple of trading sessions. One can buy the stock at current levels with a stoploss of Rs 864.
My second pick is Infosys . It has very strong support near Rs 2,300 and yesterday also we saw good buying interest at lower levels. Both the oscillators are in the oversold zone. So we may see a sharp bounce back and the stock can test Rs 2,400 in a couple of trading sessions. One can buy it with a stoploss of Rs 2,314.
Vishal Malkan of malkansview.com
My first pick is HDFC Bank . It has broken an important support of Rs 505. Daily momentum has entered into bearish zone and hourly charts have started tagging on Bollinger band. I recommend a sell with a stoploss of Rs 509 for targets of Rs 491 and Rs 485.
My second pick is HCL Technologies . It has broken a support of Rs 485 with high volumes. Hourly charts have turned bearish; I recommend a sell with a stoploss of Rs 492 for targets of Rs 477 and Rs 472.
Rajesh Jain, Religare Securities
Banking stocks have underperformed the market. One can short Dena Bank near Rs 83 level at any counter rally, keeping a stoploss of Rs 86 for target of Rs 80.
Yesterday when market was falling, BPCL saw buying in it and for the last many days BPCL has been only going up. Crude has been falling, one can buy the stock at any correction near Rs 700-705 levels keeping a stoploss of Rs 690 for target of Rs 735.
READ MORE ON Manas Jaiswal of manasjaiswal.com, Divis Labs, Infosys, Vishal Malkan of malkansview.com, HDFC Bank, HCL Tech, Rajesh Jain, Religare Securities, Dena Bank, BPCL
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