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Super Six: Top chart picks for today

Published on Wed, Nov 09, 2011 at 08:28 | Source : CNBC-TV18

Updated at Wed, Nov 09, 2011 at 10:26

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On CNBC-TV18's new show Super Six, market gurus Manas Jaiswal, Technical Analyst of Emkay Global, Vishal Kshatriya, Sr Derivative and Technical Analyst of Edelweiss and Nooresh Mirani, Head, AMSEC-Analyse India, 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 of Emkay Global

In the last month Jet Airways has made good base near to Rs 230 and yesterday it broke the resistance of Rs 265 with very good volumes. On the daily charts it has started making higher tops and higher bottoms. So buy at CMP for a target of Rs 278 and stoploss of Rs 262.

Apollo Tyres has given breakout of a triangular pattern on the daily charts. It has started making higher tops and higher bottom on the daily charts, so one can buy at CMP for the target of Rs 64 with a stoploss of Rs 58.

Vishal Kshatriya, Sr Derivative and Technical Analyst of Edelweiss

One can go long on Apollo Tyres . It has generated triangle pattern breakout along with good volumes placed on daily charts. Momentum oscillators have also given a buy signal. Besides this stock continue to trade above its short term moving average, which indicated positive momentum in the counter. Traders can go long at CMP with a target of Rs 65 and keep stoploss below Rs 58.

Go long on Jet Airways . The stock has generated trend line breakout along with good volumes on its daily charts. Momentum oscillators continue to trade with a positive bias. Besides this stock continue to trade above its short term moving average, which indicates positive momentum in the counter. Traders can go long at CMP with a target of Rs 295 and stoploss below Rs 252.

Nooresh Mirani, Head, AMSEC-Analyse India

Buy Jet Airways with target of Rs 285 and stoploss at Rs 260. Yesterday the stock has given a breakout from a small flag pattern, which was placed at Rs 256. I would expect the stock to move upto Rs 285 quickly and if it is able to close above Rs 285 it may do much more.

Buy Carborundum Universal . The stock has broken into lifetime highs yesterday with a strong closing and a good volume tick. I would expect the stock to do a target of Rs 180. Traders can keep a stop loss at Rs 158 and dips to Rs 165-162 could be used to buy.