Super Six buy/sell call for September 17

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 ICICI Bank has strong resistance near Rs 980-990 level. Even yesterday after making high of Rs 990, stock corrected sharply with good volumes. This clearly indicates that there is supply in the stock at higher levels. I would recommend traders to go short in a range of Rs 970-980 with a target price of Rs 910, maintain stop loss above Rs 1030. IDFC has strong resistance near Rs 102. Technical oscillators of hourly chart are also trading with a negative bias. I would recommend traders to go short on current market price with a target of Rs 88 and stop loss above Rs 100. Manas Jaiswal, manasjaiswal.com HDFC Bank is making higher tops and higher bottoms on the daily chart and yesterday it has broken its 200 day moving average, so we may see further up move. Stock can test Rs 665 in next one-two trading sessions. One can buy the stock at current levels with a stop loss of Rs 628.
For last two months Hindustan Petroleum Corporation (HPCL) was facing resistance near Rs 192 but yesterday it has broken this resistance with higher volumes. On the intraday chart it has made an inverse head and shoulder pattern, so we may see recovery. Stock may test Rs 205 in next one-two trading sessions. One can buy the stock at current levels with a stop loss of Rs 188. Manav Chopra, Nirmal Bang IDFC has formed a negative reversal pattern on the momentum indicators suggesting limited upside from the current levels. It has a strong resistance around Rs 96-97 on the upside. One can maintain a sell on rise approach with a stop loss of Rs 98 and downside target of Rs 85. Bharat Heavy Electricals (BHEL) faces strong hurdles around Rs 140-141 on the upside and has yesterday formed a strong reversal candle indicating strong resistance zone. One can maintain a sell, keep a stop loss above Rs 142 for a downside target of Rs 125.