Super Six: Top chart picks for June 19

On CNBC-TV18's show Super Six, market gurus Vishal B Malkan, CMT, www.malkansview.com, Vishal Kshatriya of Edelweiss and Sanjeev Agarwal, CEO, Dynamix Research & Capital Management, 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 B Malkan, CMT, www.malkansview.com
After being in range for so many days Bata India has broken the support of Rs 805 with big volumes. Price has started tagging the lower Bollinger band. I recommend a sell with the stop of Rs 801 for targets of Rs 783 and Rs 778. State Bank of India has formed a bearish engulfing pattern on the daily charts. Banking stocks have been hammered yesterday badly and momentum looks downward to continue for a couple of days. I recommend a sell with a stop of Rs 2,100 for the targets of Rs 2,060 and Rs 2,045.
 
 
Vishal Kshatriya of Edelweiss
My first pick for the day is going short on Bata India. Yesterday the stock has broken down its major support level along with good volumes. Besides this, it continues to trade below its short term moving average on its daily charts. We expect the stock to trade on the negative bias in the days to come and hence recommend going short in the range of Rs 790-800 with target price of Rs 750, maintain stop loss at Rs 828.
My second pick for the day is going short on Arvind. Yesterday the stock has given a trend line breakdown along with good volumes on its daily chart. Derivatives data indicate aggressive short build up in the stock. Short term oscillators have also given a sell signal. Traders should go short in the range of Rs 71 to Rs 73 with target price of Rs 68 maintaining stop loss above Rs 75.50.
  Sanjeev Agarwal, CEO, Dynamix Research & Capital Management
 We can buy Cummins India only above Rs 433 for a target of Rs 448-469 and we can keep a stop loss below Rs 420.
We can buy Tata Coffee at current market price (CMP) or upto Rs 875 with a stop loss below Rs 850 for a target of Rs 920 and Rs 960.