Apr 09, 2012, 09.33 AM IST | Source: CNBC-TV18

Super Six stocks you can bet on April 9

On CNBC-TV18's show Super Six, market gurus Manas Jaiswal, Technical Analyst, manasjaiswal.com, Rajesh Jain, EVP Retail Research, Religare Sec and Vishal Kshatriya, Sr Derivative and Technical Analyst, Edelweiss, place their bets on two stocks each, thus offering investors a variety of options to choose from.

On CNBC-TV18's show Super Six, market gurus Manas Jaiswal, Technical Analyst, manasjaiswal.com, Rajesh Jain, EVP Retail Research, Religare Sec and Vishal Kshatriya, Sr Derivative and Technical Analyst, Edelweiss, 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.


Manas Jaiswal, Technical Analyst, manasjaiswal.com

My first pick is Apollo Tyres . Last week it made a hammer pattern on the weekly chart and on Wednesday we witnessed good buying interest. On the daily charts it is making triangular pattern and now stock can give a breakout and can test Rs 88 in next 1-2 trading session. One can buy the stock at current levels with a stoploss of Rs 82.

My second pick is Shriram Transport . For last three weeks the stock was moving in the range of Rs 580 & Rs 605. But on Wednesday it has given a breakout and now stock can test Rs 640 in next 1-2 trading sessions. One can buy the stock at current levels with a stop loss of Rs 600.

 

Rajesh Jain, EVP Retail Research, Religare Sec

BGR Energy has been holding on to its gains. On weekly basis the stock has given a strong closing above Rs 350. One can buy the stock keeping a closing stop loss of Rs 345 and add more if the stock closes above Rs 370. The target for the stock could be Rs 400 in coming days.

JSW Steel had been correcting for two months and has now reached important support levels near Rs 700. One can accumulate the stock at its support of around Rs 700 keeping a closing stop loss of Rs 680 for higher targets of more than Rs 780 in coming days.

 

Vishal Kshatriya, Sr Derivative and Technical Analyst, Edelweiss

First pick is going short on JP Associates . The stock has strong resistance at Rs 90. Last week after making high near its resistance level stock corrected sharply that too along with good volumes. This indicates supply in stock at higher levels. Momentum oscillator on daily chart has given a fresh sell signal. I would recommend traders to go short in the range of Rs 86 to Rs 87 with target price of Rs 82 maintaining stop loss above Rs 90.

My second pick is going short on ICICI Bank . The stock has reverted multiple times from its key resistance zone of Rs 920 to Rs 930, beside this the stock continues to trade below short-term moving averages. Short-term oscillators on intraday charts are trading with the negative bias. Traders can go short in the range of Rs 900 to Rs 910 with target price of Rs 870; maintain stop loss at Rs 925.

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Apollo Tyres Shriram Trans BGR Energy
JSW Steel Jaiprakash Asso ICICI Bank

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