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Super Six: What's hot on the charts, and what's not

Published on Mon, Oct 17, 2011 at 08:24 | Source : CNBC-TV18

Updated at Mon, Oct 17, 2011 at 10:08

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On CNBC-TV18's new show Super Six, market gurus Hemen Kapadia, CEO of chartpundit.com, Parag Doctor of Motilal Oswal Securities and Shrikant Chouhan, VP Technical Research at Kotak Securities, 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.

Hemen Kapadia, CEO of chartpundit.com

Rural Electrification Corporation (REC) is looking solid. It is on the verge of a breakout after a 4 day consolidation phase, it has given an upward key reversal on higher volume, the mechanical indicators are signaled by, simply put REC looks like a great short term buying. One can buy REC at around Rs 178 with a stop loss of Rs 175 and a target of Rs 184, with a shorter term call valid more from am intraday point of view.

CORE Education & Technologies is looking solid on the hourly charts infact it has given a mini breakout of sorts on the hourly charts, most of the mechanical indicators are bullish are in buy mode indicating the possibility of further upside from current levels. Keeping that in mind one can buy it at around Rs 285, stop loss of Rs 282 and a target of Rs 291. Once again this is a shorter term call valid more from an intraday point of view.

Parag Doctor of Motilal Oswal Securities

We at Motilal Oswal Securities would like to recommend to buy Divis Laboratories . This stock has made a very strong base around 200 day average which is at Rs 710 and has started moving up. The stock is expected to go to Rs 780 levels with the stop loss being at Rs 710.

We would like to recommend to sell JSW Steel . This stock has a sharp corrective upmove from the Rs 530 levels to around Rs 630 levels where it is facing resistance from 20 day average. Stock is expected to fall to the Rs 550 levels with the stop loss being at Rs 630.

Shrikant Chouhan, VP Technical Research at Kotak Securities

ITC is trading at Rs 204 and we are expecting the target of Rs 212-215 in near term. We can trade long with a final stop loss of Rs 199 on a closing basis.

Short Tata Steel . The stock is diverging negatively. We can trade short at CMP with a final stop loss at Rs 456 on intraday basis and we can expect Rs 420-415 on the lower side in next few days.