Super Six: Top chart picks for today

On CNBC-TV18's show Super Six, market gurus Manas Jaiswal, Technical Analyst, manasjaiswal.com, Vishal Kshatriya, Sr. Derivative and Technical Analyst, Edelweiss and Rajesh Jain, EVP Reatail Research, Religare Sec 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, manasjaiswal.com
After taking support near to Rs 42 Anant Raj Industries was trading at Rs 45-47 for last 5-8 trading session but yesterday it broke this range upside. Now it can retest its recent fall and can test Rs 53. So, one can buy with a stoploss of Rs 47.
Sterlite Ind is trading above the resistance of Rs 106 for last few days. On the weekly charts RSI oscillators are showing positive divergence. So, one can buy at CMP for target of Rs 116 and stoploss of Rs 106.
  Vishal Kshatriya, Sr.Derivative and Technical Analyst, Edelweiss
My first pick for the day is going short on Cipla. Stock has strong resistance in the range of Rs 330-335. Yesterday after making high of Rs 330 stock corrected sharply along with good volumes. This clearly indicates surprise in stock near its resistance zone. Short term resistance on daily charts has given a sell signal. I recommend going short at CMP with target of Rs 308 and stoploss above Rs 335.
My second pick for the day is going short on Petronet LNG. Stock has broken its key support of 20 and 50 DMA along with good volumes. Short term oscillators on daily charts have given a sell signal. Open Interest data indicates aggressive short build up in the counter. I am recommending initiating short on any counter rally till Rs 163 with a target of Rs 153 and stoploss above Rs 168.
Rajesh Jain, EVP Reatail Research, Religare Sec
As Nifty is facing strong resistance at current level one can look at FMCG stocks like Dabur in last 3 months it has taken a good correction but has a lot of support near Rs 94-95 levels where one can accumulate keeping a stoploss of Rs 92 for target of Rs 100 plus in coming days. Axis Bank had a good run up from oversold levels and now faces good resistance from Rs 1045-1050 levels where one can short keeping a stoploss of Rs 1060 and target of Rs 1010.