On CNBC-TV18's show Super Six, market gurus Arunesh Madan, Founder and Director of Augment Investment, Manas Jaiswal of www.manasjaiswal.com and Vishal Kshatriya of Edelweiss, 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 www.manasjaiswal.com
Kotak Mahindra Bank was trading in the range of Rs 500-470 for last 8-9 trading sessions. But it broke the range downside. So now it can test Rs 450; below that it can even test Rs 430 in the next 3-5 trading sessions. One can go short with a stoploss of Rs 478.
REC was facing resistance in the range of Rs 175-180 for last few sessions. Yesterday it broke an important support of Rs 169. So we may see further weakness and stock can test Rs 150. One can go short with a stoploss of Rs 174.
Arunesh Madan, Founder and Director of Augment Investment Pvt ltd
After losing close to a third of its value in last 10 days, Sintex has rebounded very strongly. In yesterday's trade, it has made a hammer pattern on candlestick charts. There is a positive divergence on RSI indicators. One can look to buy at Rs 62.50-64, with a stoploss below Rs 60 and a target of Rs 72. Call is valid for next 2 days.
I have a buy on Tata Steel. After falling from Rs 410, the stock has made a hammer pattern in yesterday's trade, indicating that the stock appears to have bottomed in the near term. One can look to buy in the range of Rs 362-365, with a stoploss below Rs 355 and a target of Rs 378-384.
Vishal Kshatriya, Senior Derivative and Technical Analyst at Edelweiss
Go short on Hero Motocorp. Yesterday stock has broken and closed below its support of 200 DMA along with good volumes. Momentum oscillators on daily charts have given a sell signal. Besides this, open interest data indicates aggressive short build up in the counter. I would recommend going short at current market price with a target of Rs 1750 and keep a stoploss above Rs 2010.
Go short on DLF. Yesterday stock has generated trendline breakdown along with good volumes. Momentum oscillators on daily charts have trade with a negative bias. Besides this, open interest data indicates marginal short build up in the counter. Traders can go short at 188-190, with a stoploss above Rs 196 and a target of Rs 175.
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