6 stocks likely to see lot of action today

On CNBC-TV18's new show Super Six, market gurus Rajesh Jain, EVP Retail Research of Religare Sec, Aditya Agarwal, Sr Derivative Analyst of Way2Wealth Securities and Hemen Kapadia, CEO of chartpundit.com, 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.

Rajesh Jain, EVP Retail Research of Religare Sec

Yesterday the markets have taken a good counter rally from lower levels. Bajaj Auto has been holding at higher levels and can give a good rally. One can buy near Rs 1720 which is its important support keeping a stoploss of Rs 1700 for a target of Rs 1800.

JSW Steel had a good rally yesterday. One can buy the stock near Rs 665 with a stoploss of Rs 655 and target of Rs 700.

 

Aditya Agarwal, Sr Derivative Analyst of Way2Wealth Securities

Areva T&D has made a veg pattern and has managed to close above the neckline support area of Rs 198-199. With this the stock has also made a hammer pattern on daily charts which is a bullish signal. So we are expecting this stock may recover from lower levels and can test Rs 214-215 on higher side. So at CMP long positions can be initiated with stoploss of Rs 195 and target of Rs 214.

HCL Tech has closed below its crucial neckline support area of Rs 420 and with this also seen some short positions in the whole IT pack. So we are expecting that HCL Tech will continue its downward journey and on the lower side can test Rs 390 levels. So any bounce back should be used to make short positions with stoploss of Rs 424 and target of Rs 390.

 

Hemen Kapadia, CEO of chartpundit.com

Tata Motors has taken support on the 55 day exponential moving average. There has been an oversold situation from Tata Motors in a mood to bounce back. It looks good from a short term point of view. Keeping that in mind one can buy at Rs 182 with a stoploss of Rs 179 and target of Rs 188. This is a shorter term call valid from an intraday point of view.

Tata Steel has given an upward key reversal on the daily chart which is a good sign. Stock is also deeply oversold. One can buy it at 406. This is a shorter term call valid from an intraday point of view.