Super Six stocks you can bet on Jan 10

On CNBC-TV18's show Super Six, market gurus Manav Chopra of Nirmal Bang, Rajesh Jain of Religare Sec and Rakesh Gandhi of FRR shares, place their bets on two stocks each, thus offering investors a variety of options to choose from.
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Jan 10, 2013, 09.16 AM | Source: CNBC-TV18

Super Six stocks you can bet on Jan 10

On CNBC-TV18's show Super Six, market gurus Manav Chopra of Nirmal Bang, Rajesh Jain of Religare Sec and Rakesh Gandhi of FRR shares, place their bets on two stocks each, thus offering investors a variety of options to choose from.

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Super Six stocks you can bet on Jan 10

On CNBC-TV18's show Super Six, market gurus Manav Chopra of Nirmal Bang, Rajesh Jain of Religare Sec and Rakesh Gandhi of FRR shares, place their bets on two stocks each, thus offering investors a variety of options to choose from.

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On CNBC-TV18's show Super Six, market gurus Manav Chopra of Nirmal Bang, Rajesh Jain of Religare Sec and Rakesh Gandhi of FRR shares, 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.

Manav Chopra of Nirmal Bang

Shipping Corporation of India (SCI) has taken support at the long-term falling channel pattern and has formed a bullish engulfing candle, which confirms limited downside from the current level. This stock has also given a bullish cross over a moving average convergence- divergence (MACD) and a bullish signal in relative strength index (RSI), which is very positive. The counter is also currently trading above its short-term averages and has formed several bullish candles.
One can maintain a buy-on-dips approach with a stop loss of Rs 57 for a target of Rs 66.

We maintain a sell on Vijaya Bank . The stock has formed a bearish engulfing pattern along with negative divergence in RSI which suggests selling pressure to continue at higher levels. This stock is also currently trading below its important short-term averages and short-term Fibonacci support cluster. One can maintain a sell on rise on this stock with a stop loss of Rs 67 for a target of Rs 60.


Rajesh Jain of Religare Sec

Tech Mahindra is on the verge of giving a trendline breakout on the daily charts. That will be quite positive for the stock. One can buy the stock at its current price keeping a closing stop loss of Rs 920 for a higher target of more than Rs 990 in coming days.

Hero Motocorp has been underperforming the market and overall the stock looks quite bearish. One can short sell the stock at any counter rally near Rs 1,870-1,880 levels keeping a stop loss of Rs 1,910 for lower target of Rs 1,800 to be achieved in coming days.


Rakesh Gandhi of FRR shares

Andhra Pradesh Paper Mills has been sliding from the level of Rs 350 since last four months. While sliding down, it has formed a falling channel pattern and yesterday it has breached a falling trendline of the pattern. It has also closed above the falling trendline. It was also tagging the upper end of the Bollinger band and hence a buy call for a target of Rs 315 with a stop loss of Rs 284.

My second pick for the day is PTC India . After seeing a breakout from an ascending triangular pattern at the level of Rs 76, the stock has been drifting sideways. Recently it has made higher high and higher low pattern indicating once again momentum picking up with good volumes. Hence, a buy call for a target of Rs 86 with a stop loss of Rs 75.

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