Super Six short term picks for Feb 23

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Super Six short term picks for Feb 23

On CNBC-TV18's show Super Six, market gurus Hemen Kapadia, CEO, chartpundit.com, Nooresh Merani, AVP Technical, AMSEC Research and Arunesh Madan, Founder and Director of Augment Investment Pvt ltd, place their bets on two stocks each, thus offering investors a variety of options to choose from.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See what other Experts & Brokerages are saying about Essar Oil See messages about Essar Oil

On CNBC-TV18's show Super Six, market gurus Hemen Kapadia, CEO, chartpundit.com, Nooresh Merani, AVP Technical, AMSEC Research and Arunesh Madan, Founder and Director of Augment Investment Pvt ltd, 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.

Hemen Kapadia, CEO, chartpundit.com

Andhra Bank is a sell call. The stock has reflected weakness by giving a downward breakout on the intraday charts, there has been negative divergence in some of the mechanical indicators on the daily charts also. Simply put Andhra Bank could decline further from here. One can sell Andhra Bank at around Rs 124 with a stop loss of Rs 127 and target of Rs 118. This is a shorter term call, valid more from an intraday point of view.

BF Utilities is a sell call. The stock too has reflected weakness by giving a downward breakout on the intraday charts in fact the daily MACD has given a sell after two months. One can sell BF Utilities at around Rs 426 with a stop loss of Rs 430 and target of Rs 418. It's a shorter term call valid more from an intraday point of view.

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Nooresh Merani, AVP Technical, AMSEC Research

I have a buy call on Essar Oil with a target price of Rs 77 and stop loss to be placed at Rs 66. This is the only stock which closed higher yesterday as well as showed a lot of momentum, in the day it even went to Rs 73 levels but with the falling market it came down to sub Rs 69 levels.

I have a buy on SBI only on declines to Rs 2,200. Last time the stock made a lot of resistance around Rs 2,150 to Rs 2,200 and the stock then jumped up to closer to Rs 2,470 levels. Yesterday the stock has taken a hard knock and I would expect a strong recovery to come from closer to Rs 2,200, so one can buy closer to Rs 2,200 with a stop loss at Rs 2,140 and target price of Rs 2,350.

Arunesh Madan, Founder and Director of Augment Investment Pvt ltd

I have a buy call on HPCL in the range of Rs 285 to Rs 287 with a stop loss being placed below the Rs 280 levels on closing basis. The stock is moving in a range of Rs 282 on the lower side to a level of Rs 310 on the higher side. Look to buy this stock and look for a target in the region of Rs 298 to Rs 302 in today's trade.

I have a sell call on ICICI Bank in the region of Rs 955 to Rs 965 with a stop loss being placed above the Rs 980 levels on closing basis. The stock has seen Rs 350 gain in the last two months from a level of Rs 650 to Rs 1,000, look to short this stock and look for a target in the region of Rs 910 to Rs 915 in the next two trading sessions.