6 stock ideas to liven up your trade

On CNBC-TV18's show Super Six, market gurus Gaurav Ratnaparkhi of Sharekhan, Vikrant Jadeja of Vibrant Trades and Salil Sharma of Kapur Sharma & Co, 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.

Gaurav Ratnaparkhi of Sharekhan

Jaiprakash Associates has recently completed a short-term pullback with a larger downtrend. On the daily chart the stock has started forming lower top-lower bottom which is a sign of a downtrend as per Dow Theory. On the way down this stock has broken its crucial daily moving averages, which will now act as strong resistances. Overall the stock is poised for a significant decline and one can sell JP Associates’ Futures with stop loss of Rs 38.20 for target of Rs 34.50 and timeframe will be two-three days.

YES Bank has recently completed an impulse on the upside which got over near its crucial weekly moving averages and from there the stock has entered a correction mode. In the last session it has broken its swing low. The stop loss for October Futures will be Rs 317.10 and target will be Rs 280 and the timeframe will be two-three days.

Vikrant Jadeja of Vibrant Trades

Bata India was trading in a narrow range of 50 points since last six-seven trading sessions but looking at last trading session scenario, the stock has given a breakout on daily charts with increased volumes which suggests that some kind of higher levels could be expected soon in this counter. One can accumulate Bata India at current market price with stop loss of Rs 815; expect a target of Rs 900 in the next one-two trading sessions.

On the counter of Reliance Infrastructure we have seen a good impulse move on the upside continuously since last eight to ten trading sessions but looking at current scenario it seems that the stock is in the process of peaking out at the higher levels around Rs 400 and one can easily expect some kind of reversal on the downside from these levels. Sell Reliance Infrastructure October Futures at current market price with stop loss of Rs 412 expect a target of Rs 370 in the next one-two trading sessions.

Salil Sharma of Kapur Sharma & Co

I am recommending Britannia Industries which closed at Rs 775. The share touched new lifetime high and such happening is always bullish in technical parlance. One should buy Britannia at Rs 775 keeping a stop loss of Rs 755 and target would be around Rs 804.

I am recommending Entertainment Network India (ENIL), which runs Radio Mirchi. This share was consolidating between Rs 240-270 range for quite sometime and now it has given a breakout on the monthly, weekly and the daily charts as it closed at Rs 288 on Friday. One should go long at the current levels, keeping a stop loss of Rs 270 while the target would be Rs 310.