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6 trading stocks for short term gain

Gaurav Ratnaparkhi of Sharekhan seggests buying Idea Cellular with a target of Rs 177 and Jubilant Foodworks with a target of Rs 1150.

September 11, 2013 / 11:15 IST
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On CNBC-TV18's show Super Six, market gurus Shardul Kulkarni of Angel Broking, Gaurav Ratnaparkhi of Sharekhan and Pritesh Mehta of IIFL, 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.

Shardul Kulkarni of Angel Broking
Buy ITC. The overall chart structure of ITC shows a very strong move in case of yesterdays trading session and the overall price pattern on the daily chart is quite bullish. We recommend buying the stock on declines towards Rs 330, place a stop loss at Rs 319 and trade bullish for a target of Rs 355 over the next four-six trading sessions.
Buy Godrej Consumer Products. The chart structure of Godrej Consumer on daily as well as weekly chart shows a very strong uptrend with a very strong support near Rs 820 band. We recommend buying this stock above the levels of Rs 850, place a stop loss at Rs 820 and trade bullish for a target of Rs 910 over the next six-eight trading sessions.
Gaurav Ratnaparkhi of Sharekhan
I have a buy call on Idea Cellular. The stock is in a medium term uptrend on the occasions of short-term corrections. It has been finding support near its crucial weekly moving averages. Even this time it has done a short-term correction in last couple of weeks and has taken support near its 20 weeks moving average. From there the stock has started moving up once again. the daily momentum indicator has given a fresh buy signal, so one can buy this stock with a stop loss of Rs 161 for target of Rs 177 and time frame will be two-three days.
Buy Jubilant Foodworks. In its recent fall it has retraced 78.6 percent of the previous rise. At that crucial level the stock has formed an inverted head and shoulder pattern which is a bullish pattern. Right shoulder of the pattern is near its completion and the pattern is about to breakout on the upside. Short-term momentum indicators have already given buy signal ahead of the pattern breakout. The stock has a considerable upside potential from current levels. Stop loss can be placed at Rs 1035 and target will be Rs 1150.
Pritesh Mehta of IIFL
Buy Maruti Suzuki India. The daily chart of the stock shows the prices breaking out from a bottom formation after a consolidation of two weeks. Moreover a breakout is also seen from the falling wedge pattern. This suggests a likelihood increase in prices in coming trading sessions and also if you look in the oscillator front the RSI is showing more potential upside. Buy above Rs 1340 with stop loss of Rs 1300 and for target of Rs 1450 in next four-five trading session.
Sell IndusInd Bank September Futures. In last two weeks the stock has seen a V shaped recovery which appears to be topping out. On multiple occasions the stock has bounced back from the support of its 200 day moving average since September 2012. We expect same support to turn into resistance. The selling pressure is going to be tremendous below Rs 410, so sell September Futures below Rs 415 with stop loss of Rs 425 and target of Rs 390.
first published: Sep 11, 2013 08:29 am

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