Super Six trading ideas for April 3

On CNBC-TV18's show Super Six, market gurus Manas Jaiswal, manasjaiswal.com, Manav Chopra, Nirmal Bang and Rakesh Gandhi, FRR share, 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, manasjaiswal.com

For last seven-eight trading session, Sesa Goa was trading in the range of Rs 150-155. But now it has broken this range upside with higher volumes. So, we may see a sharp recovery. The stock can test Rs 165 in next one-two trading sessions. One can buy the stock at current levels with a stop loss of about Rs 154.

Yes Bank has taken support near its 200 day moving average (DMA) and broke the resistance of Rs 448 with higher volumes. We may see a sharp recovery. The stock can test Rs 460 in next one-two trading sessions. One can buy that stock at current levels with a stop loss of Rs 445.

Manav Chopra, Nirmal Bang

My first pick is HCL Technologies. The stock has been a complete outperformer in the markets recently and has been forming a series of higher highs and lows. The stock has managed to sustain above the crucial support of Rs 790 since last couple of trading sessions with absence of any sort of a negative divergence in the momentum indicators one can expect further rallies into this stock. One can buy with a stop loss of Rs 780 for an upside target of Rs 850.

My next pick is Dena Bank. The stock has formed a double-bottom pattern and has managed to exceed the crucial resistance of Rs 93 with a big bullish candle accompanied by sharp volumes. The stock is also currently trading above its short-term averages and the momentum indicators have entered into a buy mode. One can maintain a buy with a stop loss of Rs 92 for an upside target of Rs 100.

Rakesh Gandhi, FRR shares

My first pick for the day is Sun Pharmaceutical Industries. The stock has a tendency to pause for a few days and then regain a strength to make a new high. Yesterday, it is noticed that after remaining quiet for few days, short-term moving average has crossed over with rising volumes indicating that momentum would continue and hence a buy call for a target of Rs 890 with a stop loss of Rs 830.

My second pick for the day is Union Bank of India. After seeing a breakout before few days from a following channel pattern, stock was remaining in a sideways kind of trend. Yesterday, activity has picked up with a crossover of short-term moving average. It has also crossed over above its 100 and 200 exponential moving average (EMA) with good volumes. Hence, it can be bought for a target of Rs 250 with a stop loss of Rs 223.