Super Six short term picks for July 10

On CNBC-TV18's show Super Six, market gurus Manas Jaiswal, manasjaiswal.com, Vishal Kshatriya, Edelweiss and Sanjeev Agarwal, CEO, Dynamix Research & Capital, 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, manasjaiswal.com

ICICI Bank witnessed a sharp rally from the level of Rs 800, but now the stock is facing resistance near Rs 940 and yesterday we witnessed some selling pressure. Now the stock can correct its recent rally and can test Rs 900 in the next 1-2 trading sessions. One can go short with a stop loss of Rs 942.

Bank of Baroda was trading in the range of Rs 735 and Rs 722 for last 5-6 trading sessions, but yesterday it broke this range downside with higher volumes. So possibly stock can correct its recent rally and can test Rs 695 in next 1-2 trading sessions. One can go short with a stop loss of Rs 717.

 

Vishal Kshatriya, Edelweiss

My first pick for the day is going long on DLF. Stock has given a breakout of its declining trend line placed on its hourly charts, besides this long build up was seen in the previous trading session. I expect stock to trade in the positive bias in days to come and hence recommend going long at current market price with target price of Rs 225 maintaining stop loss below Rs 208.

My second pick for the day is going short on Educomp. Stock has breached and closed below its support of Rs 170 placed on its charts. Momentum oscillators on daily charts have given a fresh sell signal. I expect stock to trade with a negative bias and hence recommend going short in the range of Rs 167-170 with target price of Rs 152 maintaining stop loss at Rs 177.

 

Sanjeev Agarwal, CEO, Dynamix Research & Capital

MRF has given a very strong breakout two days back and now it is pulling back. We can buy it at current market price with a stop loss below Rs 10,000 on closing basis for a target of Rs 11,100 and Rs 11,500.

Schneider Electric has been correcting for quite some time and three days back it had given a strong breakout. We can buy it at current market price around Rs 80 with a stop loss below Rs 72 for a target Rs 90-100.