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Jun 05, 2012, 09.16 AM IST
On CNBC-TV18's show Super Six, market gurus Shardul Kulkarni of Angel Broking, Arunesh Madan, Founder and Director of Augment Investment Pvt ltd and Rajesh Jain, EVP Retail Research, Religare Sec, place their bets on two stocks each, thus offering investors a variety of options to choose from.
Buy Wockhardt . We have seen that the stock has given an exceptional rally in the past few trading sessions and is presently giving a flag breakout, which is a bullish pattern. We feel that it can be accumulated in the range of Rs 825 to Rs 815. On the lower side place the stop loss at Rs 785. We see a potential target of around Rs 900 in the next 6-8 trading sessions.
Buy Axis Bank . In yesterdays trading session the banking stocks have given a very smart recovery and we feel that the market can probably continue this particular rally in the banking counters. Thus we feel you can accumulate it in the range of Rs 988 to Rs 980. Place stop loss on the lower side at Rs 955 and target on the upside at Rs 1050. The stop loss should be placed on a closing basis.
Arunesh Madan, Founder and Director of Augment Investment Pvt ltd
Buy Larsen and Toubro (L&T) at current market price as the stock has formed an engulfing bullish pattern on the daily candlestick charts on the back of decent volumes. Keep a stoploss below the Rs 1144 levels and look for a target of Rs 1210-1215 in the coming days.
I have a buy call on Bank of Baroda at the CMP with a stop loss below the Rs 660 levels on a closing basis. In my opinion the stock is witnessing a corrective rally of its steep fall from a level of Rs 860 to around Rs 605. The target for the current uptrend is around Rs 735-740; be strict with the stop loss.
Rajesh Jain, EVP Retail Research, Religare Sec
Banking stocks took a sharp rally yesterday. Dena Bank closed sharply higher on good volumes. One can buy the stock near its support of Rs 92 keeping a closing stop loss of Rs 90 for higher target of Rs 98.
Financial Technology is forming a small rounding bottom formation on daily charts. One can buy the stock at its current price keeping a closing stop loss of Rs 580. A closing above Rs 620 can take the stock to a target of Rs 640.
Tags: Shardul Kulkarni of Angel Broking, Arunesh Madan, Founder and Director of Augment Investment Pvt ltd, Rajesh Jain, EVP Retail Research, Religare Sec, Wockhardt, Axis Bank, Larsen and Toubro, Bank of Baroda, Dena Bank, Financial Technology
May 22 2013, 13:11
- in MARKET OUTLOOK
May 22 2013, 10:44
- in Economy