Super Six trading ideas for the day

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Super Six trading ideas for the day

On CNBC-TV18's show Super Six, market gurus Vishal B Malkan, CMT, www.malkansview.com, Vishal Kshatriya, Sr Derivative and Technical Analyst, Edelweiss and Rakesh Gandhi, Sr Technical Analyst, LKP, 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 Vishal B Malkan, CMT, www.malkansview.com , Vishal Kshatriya, Sr Derivative and Technical Analyst, Edelweiss and Rakesh Gandhi, Sr Technical Analyst, LKP, 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.

Vishal B Malkan, CMT, www.malkansview.com

My first pick is ICICI Bank . It has formed lower top lower bottom formation on daily charts, on hourly charts it has turned bearish. I recommend a sell with a stoploss of Rs 895 and target of Rs 875 and 865.

My second pick is Infosys . It has broken an important support with gap yesterday. Hourly charts pattern is bearish. I recommend a sell with a stoploss of Rs 2880 and target of Rs 2820 and 2800.

Vishal Kshatriya, Sr Derivative and Technical Analyst, Edelweiss

My first pick is going long on Hindalco Industries . The stock has formed head and shoulder pattern on its hourly charts with neckline placed at Rs 152. We believe stock can rally till Rs 163 if it breaks its resistance of RS 152. Traders can go long on breakout above Rs 152 with a target of Rs 163 and stoploss at Rs 146.

My second pick for the day is going long on Bombay Dyeing . Yesterday stock has seen aggressive long build up, which is indicated by Open Int data. Momentum oscillators on daily as well as intraday charts have given a fresh buy signal. I am expecting stock to trade with a positive bias in days to come. I recommend going long at CMP with a target of Rs 500 and stoploss at Rs 440.

Rakesh Gandhi, Sr Technical Analyst, LKP

My first pick for the day is ACC . The stock has seen high of Rs 1420 and now has retraced upto Rs 1240 where it has found a buying interest and hence can be bought for a target of Rs 1370 with a stoploss of Rs 1290.

My second pick is Gujarat Fluorochemicals . The stock has been making higher highs and higher lows and has been moving in a band of 10% since last 2 weeks. I believe from the formation that once again the stock would touch the higher point of the band and could be bought for a target of Rs 540 and stoploss of Rs 500.