Super Six buy/sell call for September 02

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 of manasjaiwal.com Jindal Steel & Power has made a dark cloud cover pattern on the weekly chart and on the daily chart oscillators are showing negative cross over, so we may see a downside. The stock can test Rs 210 in next one or two trading sessions. One can go short with a stop loss of Rs 226. Adani Enterprises is making lower tops and lower bottoms on the daily chart. On Friday, it broke support of Rs 145 with higher volumes, so we may see further downside. The stock can test Rs 130 in next one-two trading sessions. One can go short with a stop loss of Rs 147.
Aditya Agarwal of Way2Wealth Securities We have a buy call on Bharti Airtel. The stock has seen a correction of almost 10-14 percent in the last couple of trading days but on the lower side the stock is having a crucial support around Rs 288-290 levels and on those levels on Friday, we have seen a good bounce back and in this bounce back we have seen long positions getting build up in Friday’s trade. So, we are expecting some more value from these levels which may take stock towards Rs 320 levels. So, at current levels one can initiate long positions keeping a stop loss of Rs 288 and on the higher side target will be Rs 320. I have a buy call on Arvind for the day. On weekly chart the stock has given a good breakout above Rs 76 levels and on Friday the stock added almost 9 percent shares in open interest, which are on long side. Any decline in Arvind towards Rs 77 levels; it can be used to accumulate long positions. On higher side target will be Rs 84 and stop loss will be Rs 75.50.
Rakesh Gandhi of FRR Shares I have selected Hindustan Unilever (HUL) for the day. However, while the market saw a very sharp downward trend, Hindustan Unilever has remained in a sideways kind of trend forming a bullish pattern during that period having a neckline around Rs 610. On Friday the stock has already closed above Rs 610 level and indicating that the upward momentum has started and hence one can accumulate the stock on all the dips for a target of Rs 660 in a short-term, while with a medium-term perspective of target Rs 680 and maintain a stop loss of Rs 595. My second pick is Cipla for the day. In the last few days the stock has been remaining in a sideways kind of trend and has indicated a kind of accumulation based on technical patterns because the price has been remaining in a small range while the volumes were seeing rising. Now the stock has resistance around Rs 425 and once it manages to sustain above Rs 425, the momentum will pick up and we can see a higher target of Rs 450 and hence the stock can be accumulated in the current range with a stop loss of Rs 395 with a short-term target of Rs 450.