6 intraday picks to make smart gains

On CNBC-TV18's show Super Six, market gurus Pritesh Mehta of IIFL, Shardul Kulkarni of Angel Broking and Vishal Malkan of CMT, 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.

Pritesh Mehta of IIFL

Buy Jaiprakash Associates, the stock has been building a base for most part of this month despite the carnage in the broader markets. Now after a period of sideways consolidation between Rs 29-33 the stock has finally confirmed a breakout on the upside. Buy JP Associates with a stop loss of Rs 31 for a target of Rs 40 in next seven-eight trading sessions.

Buy Wipro. IT stocks have been a safe haven in this bear market. Both Infosys and TCS have seen a significant upside in these intraday sessions. Now Wipro has confirmed a breakout from a three year long trading pattern. Stock was attempting to breakout the level of Rs 470 for quite a while and on Wednesday it confirmed the same. Buy Wipro above Rs 470 with stop loss of Rs 460 and target of Rs 495 in next three-four trading sessions.

Shardul Kulkarni of Angel Broking

Buy MRF. The daily chart of MRF shows that the prices are near an important trend line support level whereas the momentum oscillators are extremely oversold. We recommend buying MRF above the levels of Rs 13000, place a stop loss at Rs 12600 and trade bullish for a target of Rs 14000 over the next six-eight trading sessions.

Buy National Mineral Development Corporation (NMDC). While the market has corrected significantly in the last four trading sessions, NMDC has been consistently trading above the levels of Rs 110. The daily chart structure shows a sideways consolidation in the range of Rs 110-120 and the price action in yesterdays trading session shows that if the stock moves above the level of Rs 170 significant upside can be seen in the next few trading sessions. Buy above Rs 117, place a stop loss at Rs 109 and target of Rs 130 in next six-eight trading sessions.

Vishal Malkan of CMT

Buy Ranbaxy Laboratories with a stop loss of Rs 410 and target of Rs 428-435. Yesterday it gave a sharp move crossing important level of Rs 400. Its momentum has entered into bullish zone on daily chart.

Buy Tata Consultancy Services (TCS). It is making higher tops and higher bottoms since a long time, outperforming the market as well as the sector. Yesterday it managed to cross above the important resistance of Rs 1900. I expect the move to continue. For today I have a buy call with stop loss of Rs 1880 and target of Rs 1945-1960.