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May 04, 2012, 10.24 AM IST
On CNBC-TV18's show Super Six, market gurus Arunesh Madan, Augment Investment, Parag Doctor of Keynote Capitals and Rajesh Jain, EVP Retail Research, Religare Sec, Technical Analyst, place their bets on two stocks each, thus offering investors a variety of options to choose from.
Arunesh Madan, Augment Investment Sell Bata India in the range of Rs 868-872 with a stop loss being placed above the Rs 880 levels on a closing basis. The stock has formed a bearish pattern on a daily candlestick charts with negative divergence on the RSI indicator. This pattern has been formed after a sustained rally in the stock price, look for a target of Rs 830 in the coming days. Sell Kotak Mahindra Bank in the range of Rs 583-587 with the stop loss being placed above Rs 593 levels on a closing basis. Look for a target of Rs 550 in the coming days.
We at Keynote Capital would like to recommend a buy on Tata Consultancy Services (TCS) with a stoploss of Rs 1,245 and a target of Rs 1,330. The stock is at a new 52-week high and is expected to benefit from the rupee depreciation and continue the upward march. We at Keynote Capital would like to recommend to buy Hindustan Unilever with the stop loss of Rs 420 and a target of Rs 460. The stock has made a new 52-week high and is a new bull orbit and has continued to go upwards.
IDBI Bank has been underperforming the market in the last one month and yesterday also saw a correction when markets were falling. One can short the stock at any counter rally near its important resistance of Rs 100, keeping a stop loss of Rs 104 for target of Rs 95. Yesterday when the markets were falling, Arvind saw a huge buying with volume. One can buy the stock near Rs 87-88, which is now its important support keeping a stop loss of Rs 85 for higher targets of Rs 93.
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