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Sep 07, 2012, 10.38 AM IST
On CNBC-TV18's show Super Six, market gurus Vishal Kshatriya of Edelweiss, Arunesh Madan of Augment Investment and Rakesh Gandhi of LKP, place their bets on two stocks each, thus offering investors a variety of options to choose from.
Short PFC . The stock has given flag pattern breakdown along with good volumes. Oscillators on daily chart continue to trade with a negative bias. Open interest data indicates short buildup in the stock. I expect stock to trade with a negative bias in days to come and hence recommend going short in the range of Rs 155-158 with target price of Rs 145. Maintain stop loss above Rs 162.
Lupin has broken out its previous high and has made further fresh life highs in previous trading sessions. The breakout was further accompanied by huge volumes and aggressive long buildup, which is indicated by open interest data. I would recommend traders to go long in a range of Rs 600-605 with target price of Rs 625 maintaining stop loss below Rs 590.
Arunesh Madan of Augment Investment
Sell United Spirits in the range of Rs 990-995 as the stock has formed an engulfing bearish pattern on the daily candlestick charts. The RSI indicator has also given a sell signal showing negative divergence. Look for a target of Rs 950-930 in the coming days and keep a stop loss above Rs 1025 on a closing basis.
Buy TCS . It closed at a life time high in yesterday’s trade. The stock is now moving into an uncharted territory. Look to buy this stock at any declines in the range of Rs 1365 to Rs 1370. Keep a stop loss below Rs 1350 and look for a target of Rs 1425-1450 in the coming days.
Aurobindo Pharma has been remaining in a tight trading band between Rs 110-118 since the month of May. Recently the stock has been closing very near to the upper end of the band and price is also tagging the Bollinger band on the higher side indicating the momentum is likely to pick up in next few sessions. So the stock can be bought for a target of Rs 128 and stop loss of Rs 113.
Century Textiles has been sustaining above 100 days and 200 days exponential moving average since last more than 6-8 weeks while remaining in a tight range above this exponential moving average it has formed a symmetrical triangle pattern. The breakout on the upside of this triangle pattern is Rs 325 and once the stock moves above Rs 325, the momentum would pick up and it could see levels of Rs 350. Hence buy the stock with a target of Rs 350 and stop loss of Rs 313.
Tags: Vishal Kshatriya of Edelweiss, Arunesh Madan of Augment Investment, Rakesh Gandhi of LKP, PFC, Lupin, United Spirits, TCS, Aurobindo Pharma, Century Textiles
May 22 2013, 13:11
- in MARKET OUTLOOK
May 22 2013, 10:44
- in Economy