Super Six stocks you can bet on September 04

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

Axis Bank was trading in the range of Rs 875 and Rs 800 for the last four-five trading sessions but yesterday it broke this range downside with higher volumes, so we may see further downside. The stock can test Rs 750 in next one-two trading sessions. One can go short at current levels with a stop loss of Rs 796.

Punjab National Bank (PNB) is making lower tops and lower bottoms on daily charts. Yesterday it has broken support of Rs 420 with higher volumes, so we may see further weakness. The stock can test Rs 395 in next one-two trading sessions. One can go short at current levels with a stop loss of Rs 421.

Aditya Agarwal, Way2Wealth Securities

I have a sell call on Cipla. On higher side Rs 420-425 band is a strong resistance level for this stock and in last two weeks the stock has reversed from those levels around three-four times. In yesterday’s session the stock has seen a sharp correction from those levels and with this it has added almost 6 percent shares in open interest which is on short side. We are expecting selling pressure to continue and if there is any bounce back also till Rs 410-414 levels then it can again be used to make short positions. On lower side we have target of Rs 394 and stop loss will be Rs 422.

I have a buy call on Cairn India. On weekly charts last week this stock has given a good breakout above Rs 316 and the stock is managing to trade above that only. On any decline long positions are getting built-up into Cairn India. We are expecting buying to continue and on higher side our immediate target is Rs 340. One can maintain a stop loss of Rs 318 in Cairn India.

Rakesh Gandhi, FRR Shares

I have selected Punjab National Bank (PNB) for the day. Once again banking stocks have seen a sharp decline yesterday and out of many banking stocks PNB looks the weakest. As it has broken the recent low of Rs 420 and closed below it indicating that downward would continue and hence can be sold for a downward target of Rs 375 and maintain a stop loss of Rs 435.

I have buy call on Tech Mahindra for the day. Most technology stocks have seen an upward momentum due to the rally in dollar. Though Tech Mahindra is trading very much close to its all time high, it can be bought on dips around Rs 1,400 and up to Rs 1,375 for higher target of Rs 1,475 and maintain a stop loss of Rs 1,345 with a trading perspective.