Jul 22, 2011, 11.54 AM IST
On CNBC-TV18's new show Super Six, market gurus Hemen Kapadia of chartpundit.com, Parag Doctor of Motilal Oswal Securities and Shrikant Chouhan, VP Technical Research of Kotak Securities, place their bets on two stocks each, thus offering investors a variety of options to choose from.
One can buy Suzlon at around Rs 52 with a stop loss of Rs 50 and a target of Rs 56. The stock has been under tremendous pressure, first time on a long term there has been significantly higher volume. Infact the stock is poised for an upward breakout, if it closes above Rs 52.5-53 I think this could be the onset of an intermediate uptrend and over the longer teem it can actually surprise on the upside.
Zee Entertainment has reversed after significantly higher volumes, deeply oversold. Infact it has given a mini breakout on the hourly charts also. Simply put one can buy it at around Rs 128 with a stop loss of Rs 125 and a target of Rs 134.
Parag Doctor of Motilal Oswal Securities
Buy Siyaram Silk Mills . This stock has been accumulated between the Rs 350-360 levels for the last several months. The stock has the 200 day moving average support around the Rs 360 mark. It is expected to go upto the Rs 410 levels with a stop loss at Rs 362.
Sundram Fasteners has been accumulated between the Rs 55 and 60 levels for the last several weeks. The 200 day support is around the Rs 59 levels. It is expected to move to the Rs 65 with a stop loss at Rs 56.
Shrikant Chouhan, VP Technical Research of Kotak Securities
Info Edge is under bullish consolidation and it is just below the breakout level of Rs 770. It is good time to buy between the range of Rs 770-730 with a stop loss at Rs 690 and on the dismissal of Rs 770 we can expect Rs 860-950 on the higher side. Its a positional bet.
My second pick is Central Bank but the strategy should be to trade short with a stop loss at Rs 130. We can expect Rs 115-110 in the near term.
Tags: Hemen Kapadia of chartpundit.com, Parag Doctor of Motilal Oswal Securities, Shrikant Chouhan, VP Technical Research of Kotak Securities, Suzlon, Zee Entertainment, Siyaram Silk Mills, Sundram Fasteners, Info Edge, Central Bank
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