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6 stock ideas to liven up your trade

On CNBC-TV18's show Super Six, market gurus Manas Jaiswal, Technical Analyst at manasjaiswal.com, Rajesh Jain, EVP Retail Research at Religare Sec and Rakesh Gandhi, Sr Technical Analyst at LKP, place their bets on two stocks each, thus offering investors a variety of options to choose from.

July 26, 2012 / 09:01 IST
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On CNBC-TV18's show Super Six, market gurus Manas Jaiswal, Technical Analyst at manasjaiswal.com, Rajesh Jain, EVP Retail Research at Religare Sec and Rakesh Gandhi, Sr Technical Analyst at 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.


Manas Jaiswal, Technical Analyst at manasjaiswal.com

Allahabad Bank has made a morning star pattern on the daily charts which is a reversal sign. So we may see a sharp up move and stock can test Rs 145 in next 1-2 trading sessions. One can buy the stock at current levels with a stop loss of Rs 135.

Orbit Corporation has made a hammer pattern on the daily charts which is a bullish sign. So now we may see a recovery and stock can test Rs 51 in next 1-2 trading sessions. One can buy the stock at current levels with a stop loss of Rs 45.


 


Rajesh Jain, EVP Retail Research at Religare Sec


After a sharp correction from 5350 levels to 5080 levels, markets have become oversold and can now retrace. In such a scenario one can buy Idea Cellular at current price keeping a closing stop loss of Rs 76 for target of Rs 85 in the coming days.


After a strong rally for many days Havells India is now correcting for the past 3 sessions and has retraced near to its support zone. One can buy the stock around Rs 590 keeping a stop loss of closing below Rs 585 for the target of Rs 610 plus in coming days.


 

Rakesh Gandhi, Sr Technical Analyst at LKP

HCL Technologies has been in a side ways range since last 5 months between Rs 560 and Rs 520. Yesterday after result it has seen a significant rally of 7% together with good volumes. From here if stock manages to close above Rs 520 which seems likely based on the charts perspective, the momentum would further pick up and stock could see levels of Rs 600 and hence can be bough with a stop loss of Rs 490.

MRF has been consolidating above Rs 9800 since the month of April. Yesterday stock saw a very huge volume and had also seen level of Rs 10300. If the stock breaks out above this Rs 10300 level there could be a move above a symmetrical triangle formation and hence the stock can be bought above that level for a target of Rs 11000 with a stop loss of Rs 9900.

first published: Jul 26, 2012 08:57 am

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