Super Six short term picks for August 16

Vishal Malkan, CMT

Reliance Infra has formed a bullish candlestick pattern on daily charts. Hourly momentum is bullish with good volumes. I recommend a buy with a stoploss of Rs 519 for targets of Rs 532 and Rs 537.

Tata Steel has formed a bullish candlestick pattern on daily charts. It has taken important support of Rs 390 level. Hourly momentum is bullish. I recommend a buy with a stoploss of Rs 403 for targets of Rs 415 and Rs 419.

Shardul Kulkarni, Angel Broking

One stock that we would recommend buying is GAIL . The stock is in a good strong higher top, higher bottom cycle and a corrective towards Rs 365 is completing thus we recommend buying GAIL in the range of Rs 372 to Rs 375, place a stop loss at Rs 364. For a potential target of Rs 395 in the next five-six trading sessions.

The second stock that we will recommend is JSW Holdings . In case of JSW Holdings, we are seeing that the pattern on the daily chart is a flag and in the flag breakout will confirmed above the levels of Rs 650. Thus we recommend buying Jindal South West Holdings above Rs 650, place a stop loss at Rs 633 for a potential target of Rs 695 in the next five-six trading sessions.

Arunesh Madan, Founder and Director of Augment Investment

Adani Enterprises has given a trendline breakout from a falling trendline placed on is daily chart. The momentum indicators after reaching deep oversold levels have also begun to look up. Look to buy this stock in the range of Rs 189-190.50. One should keep a stop loss below Rs 184 and look for a target of Rs 204-208 in the coming days.

Buy Bank of Baroda in the range of Rs 635 to Rs 640 as the stock has formed a bullish pattern on the daily candlestick charts after making a double bottom in the range of Rs 620. Keep a stop loss below Rs 620 levels and look for a target of Rs 663 in the coming days.