On CNBC-TV18's show Super Six, market gurus Rajesh Jain of Religare Capital, 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.
Rajesh Jain of Religare Capital Cipla closed at an all time high and closed above its sideways consolidation zone of last eight months. One can buy the stock at any correction near Rs 430 keeping a closing stop loss of Rs 420 for higher targets of Rs 460 plus in coming days. Voltas has seen a decent correction and the stock has not participated in the rally. One can buy the stock near Rs 65 keeping a closing stop loss of Rs 64 for higher targets of Rs 70 in coming days. Gaurav Ratnaparkhi of SharekhanSintex Industries has been falling since last few months in terms of wave structure; the multi month fall has taken form of an impulse on the downside. And a weekly positive close in the last week completes the impulse on the downside. So the stock is now poised for a sharp bounce from a short term as well as medium term perspective. The daily momentum indicator is showing huge positive divergence and has given a fresh buy signal. So one can buy this stock with stop loss of Rs 17.50 for target of Rs 20 and timeframe will be two-three days. Crompton Greaves has formed an accumulation triangle which is a bullish pattern and the pattern is panning over more than two months which shows that the long-term accumulation has taken place in this counter and the pattern in about to breakout on the upside. Momentum indicators on various timeframes are showing bullish potential, so the stock is a good buying candidate for traders as well as for investors. From trading perspective stop loss can be placed at Rs 85 and target will be Rs 95. Pritesh Mehta of IIFL
Buy Siemens. After the decline the stock appears to have been building a base and after consolidation of last one month between Rs 420 and 445, the stock is breaking on the upside. It is also trading above its short-term moving averages. Buy above Rs 445 with stop loss of Rs 420 for target of Rs 490 in next two trading weeks.
Buy HDFC. On the hourly charts it has signaled a breakout from inverted head and shoulder formation. Now the stock is showing signs of bottoming out after a sharp decline from the levels of Rs 900 in the month of July. The RSI is showing signs of positive crossover. Now we expect the momentum to continue in next few trading sessions. Buy above Rs 760, stop loss of Rs 740 for target of Rs 810 in next three-four trading sessions.
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