Check Out: Super Six stocks for September 18

Manas Jaiswal, manasjaiswal.com suggests buying Apollo Tyres with a target of Rs 69.50 and ITC with a target of Rs 347.

September 18, 2013 / 09:21 IST
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On CNBC-TV18's show Super Six, market gurus Vishal Kshatriya of Edelweiss Securities, Manas Jaiswal of manasjaiwal.com and Manav Chopra of Nirmal Bang, 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 Kshatriya, Edelweiss
Go long on HCL Technologies. Overall trend in the stock is positive which is depicted by formation of higher tops and higher bottoms on its daily charts. Yesterday stock managed to bounce back from its important support of 20 day moving average. This clearly indicates that there is emerging demand in the stock from its support levels. I would recommend traders to go long at current market price with a target of Rs 1100-1130, keep stop loss below Rs 990.
Go long on Dr Reddys Laboratories. Stock has given declining trend line breakout with good volumes on its daily chart. Derivatives data also indicates a long buildup in the stock. Traders can initiate long at current market price with a target price of Rs 2400 and stop loss below 2240.
Manas Jaiswal, manasjaiswal.com
For last two weeks Apollo Tyres was trading in a range of Rs 60-65 but yesterday it has broken this range upside with higher volumes. So we may see further up move. Stock can test Rs 69.50 in next one-two trading sessions. One can buy the stock at current levels with a stop loss of Rs 65.50.
For last five-six trading sessions ITC was trading in a range of Rs 330 and Rs 337 but yesterday it has broken this range upside. This is a flat breakout on the daily chart, so we may see a sharp up move, stock can test Rs 347 in next one-two trading sessions. One can buy the stock at current levels with a stop loss of Rs 336.
Manav Chopra, Nirmal Bang
Sell Reliance Industries. The stock has breached the crucial support of Rs 865 decisively with a big bearish candle accompanied by sharp volumes and the momentum indicators have also entered into a bear mode suggesting there is limited upside from the current levels. One can maintain a sell on rise approach, keep a stop loss of Rs 875 for a downside target of Rs 825.
Buy Maruti Suzuki India. The stock has breached the trend line drawn from its important high risk which has confirmed a short-term trend reversal signal. The stock is also currently trading above its short-term averages which are a positive signal. It has strong support around Rs 1362-1370 on the downside. One can maintain a buy on dips approach with a stop loss of Rs 1350 for an upside target of Rs 1425.
first published: Sep 18, 2013 08:10 am

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