Super Six: Top chart picks for July 18

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
Sell Hexaware Technologies. It has broken an important support of Rs 112. Price has started tagging on the lower bollinger band on daily charts. It has also broken an important trend line. I recommend a sell with a stop loss of Rs 114 for target of Rs 107.50 and 105.
Sell call on Educomp Solutions. After trading into a range of 4-5 days the hourly chart has broken on the downside. Momentum is bearish. I recommend a sell with a stop loss of Rs 170.50 for targets of Rs 165 and 163.50.
Shardul Kulkarni, Angel Broking
Sell call on Asian Paints July. The chart structure suggests a bearish flag breakdown. Thus we recommend selling July futures for Asian Paints in the range of Rs 3660-3680. The stop loss on the upside should be placed at Rs 3735. The expected target over the next 3-5 trading sessions is Rs 3480.
Sell call on L&T July Future. The chart structure suggests that the stock has formed a double top and has already given a breakdown in yesterdays trading session. Thus we recommend selling L&T July Future in the range of Rs 1380 to 1385, stop loss should be placed at Rs 1410, target price on lower side is Rs 1335 in the next 3-5 trading sessions.
Arunesh Madan, Founder and Director of Augment Investment
After falling like a knife, Wipro has formed an engulfing bullish pattern on the daily candlestick charts. The momentum indicators after reaching the highly oversold zone have turned upwards. Look to buy this stock in the range of Rs 359 to Rs 361, a stoploss below Rs 350 on a closing basis and look for a target of Rs 369 in the next couple of trading sessions.
Sell call on Kotak Mahindra Bank in the range of Rs 593 to 596 as the stock has not been able to sustain above the Rs 600 levels on a consistent basis. Look to short this stock, keep a stop loss above Rs 605 levels and look for a target of 576 as the indicators have also turned down from highly overbought zone.