Super Six buy/sell calls for August 23

On CNBC-TV18's show Super Six, market gurus Rajesh Jain of Religare Securities, Rajeev Agarwal of Dynamixresearch.in and Gaurav Ratnaparkhi of Sharekhan, 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.

Rajesh Jain of Religare Securities
Yesterday metal stocks went up sharply. NMDC gave a closing high of last two months. One can buy the stock near Rs 115 keeping a closing stop loss of Rs 110 for higher target of Rs 124 in coming days. Cipla has fallen from Rs 426 levels to Rs 390 levels in last seven trading sessions. Yesterday the stock went up from Rs 390 level which is its strong support. One can buy the stock near Rs 395 keeping a closing stop loss of Rs 390 for higher target of Rs 410. Rajeev Agarwal of Dynamixresearch.in
One can attempt shorts in Reliance Industries in the range of Rs 810-820, keep a stop loss above Rs 835 on closing basis. My initial target is around Rs 785-765 in next 10-15 trading sessions.
Sell Power Grid Corporation of India. In past we have seen a strong downfall below Rs 100 and now it is giving pullback towards that level. So one can attempt shorts in the range of Rs 98-100, keep a stop loss above Rs 103 on closing basis. My initial target is around Rs 92 and next logical target is around Rs 86 in next 10-15 trading sessions. Gaurav Ratnaparkhi of Sharekhan Adani Enterprises has been falling since last few months. However the stock has recently taken support near the 2012 lows. So the stock has a potential to form a double bottom pattern whose implications would be bullish on short term as well as medium term perspective. Also the short-term momentum indicator is showing positive divergence and has triggered bullish cross over. So the stock is poised for a sharp bounce and stop loss from short-term perspective can be placed at Rs 159 and target will be Rs 180.
Buy United Phosphorous. The stock has formed a bullish flag pattern on the daily chart and near the lower end of the pattern the stock has taken support near its crucial daily moving averages as well as near weekly moving averages. The stock has consolidated above a strong support zone and fresh rally looks around the corner. So from two-three days perspective one can buy this stock with stop loss of Rs 141 for target of Rs 158.