On CNBC-TV18's show Super Six, market gurus Vishal Malkan of www.malkansview.com, Shardul Kulkarni of Angel Broking and Arunesh Madan, Founder and Director of Augment Investment, 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.
Vishal Malkan, www.malkansview.com Sun Pharmaceuticals has formed a bearish engulfing pattern on daily chart. Hourly momentum has turned bearish. I recommend a sell with a stop of Rs 633 for targets of Rs 620 and Rs 615. Tata Global is a buy call. It has broken the resistance trendline, hourly chart is showing momentum with the huge volumes. I recommend a buy with a stop of Rs 116 for targets of Rs 122.50 and Rs 124.
Shardul Kulkarni, Angel Broking
The first stock that we will recommend for today is a buy call in case of Bajaj Finserv. The chart structure on the weekly chart clearly suggests a very strong higher top, higher bottom cycle. Thus we expect the stock to move to around Rs 775 to Rs 780. In the next two-three weeks buying is recommended near to Rs 710 levels, stop loss for the trade would be at Rs 680.
Arunesh Madan, Founder and Director of Augment Investment Pvt ltd Adani Enterprises has formed a hammer pattern on the daily candlestick charts indicating that the stock may have bottomed out in the very short run besides there appears to be a positive divergence on the RSI indicator. Look to buy this stock in the range of Rs 195-197 with the stop loss being placed below Rs 187 levels and look for a target of Rs 215-220 in the coming days.
After witnessing a corrective rally from a level of Rs 700, Punjab National Bank (PNB) has formed a negative pattern on the daily candlestick charts indicating that the corrective rally may have come to an end, look to short this stock in the range of Rs 835-840, keep a stop loss above Rs 850 levels on a closing basis and look for a target of Rs 795 and Rs 800 in the coming days.
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