Super Six: Top chart picks for September 05

On CNBC-TV18's show Super Six, market gurus Manas Jaiswal of manasjaiwal.com, Aditya Agarwal of Way2Wealth Securities and Rakesh Gandhi of FRR Shares, 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.

Manas Jaiswal, manasjaiwal.com Bharat Heavy Electricals (BHEL) has made an inverse head and shoulder patter on the daily chart and yesterday it has broken neckline. The stock can test Rs 133 in next one-two trading sessions. One can buy the stock at current levels with a stop loss of Rs 124. Apollo Tyres was moving sideways in the range of Rs 64 and Rs 60 for last few days but yesterday it has broken this range upside with higher volumes, so we may see further recovery. The stock can test Rs 69 in next one-two trading sessions. One can buy it with a stop loss of Rs 63.
Aditya Agarwal, Way2Wealth Securities
I have a buy call on Larsen and Toubro (L&T). In yesterday’s session the stock has seen a good correction but on lower side the stock managed to close above the support level of Rs 680 and yesterday we have seen bounce back from these levels. We expect the stock will continue to trade with positive biasness and we will see some shorter covering in L&T. One can initiate long positions at current levels around Rs 700 keeping a target of Rs 735-740 and on lower side the stop loss will be Rs 680.
I have a buy call in Idea Cellular. This stock is trading in a band of Rs 145 and Rs 175 for last couple of trading sessions. Currently the stock is trading at its lower band of range around Rs 150-152. This is a good time when one can go long in Idea. We are expecting a short covering which may take the stock towards Rs 165 to Rs 175 levels in next couple of trading sessions. So, Idea is one counter in which risk reward is in favour of buyers and at current levels long positions can be initiated keeping a stop loss of Rs 148.
Rakesh Gandhi, FRR Shares
I have a buy on Bajaj Auto. After a decline and remaining in a consolidation form since last few weeks, now the stock is giving some indication of upward momentum. It has also crossed above 100 and 200 day exponential moving average indicating based on technical parameters that momentum is up and hence a buy call for a target of Rs 1975 with a stop loss of Rs 1850.
I have a buy call in Hindalco Industries. The stock has been remaining in a sideways kind of trend forming a base and having a neckline at around Rs 113, which is acting as a stiff resistance for the stock. If it crosses Rs 113 and sustains above that then there could be a sharp rally up to Rs 120, hence a buy call for a day target of Rs 113 and a medium-term target of Rs 120 with a stop loss of Rs 104.