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Super Six intraday picks for the day

Reliance Industries Ltd (RIL) being a heavyweight on the index can hold the weak market on a glaring day. One can buy the stock at its current price keeping a stop loss of Rs 895 for higher target of Rs 930, says Rajesh Jain of Religare Securities.

July 25, 2013 / 09:19 IST
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On CNBC-TV18's show Super Six, market gurus Nooresh Merani of AMSEC Research, Rajesh Jain of Religare Securities and Rajeev Agarwal of dynamixresearch.in, 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.

Nooresh Merani of AMSEC Research
My first stock call is a sell on Titan Industries with a stop loss of Rs 275 and a target at Rs 245. The stock has been making lower tops on a longer-term chart. We expect the stock to correct over the next few days seeing the candlestick reversal yesterday. One can short the stock at any rise to Rs 265 to Rs 270 levels with a stop loss at Rs 275.
My second stock call is a sell on Bharat Forge. The stock is in a downtrend for the last one-two years. In the short-term it has given a small triangle breakout, which has a target price of Rs 195. One can short the stock at current levels of Rs 212-215 with a stop loss at Rs 220. Rajesh Jain of Religare Securities Reliance Industries Ltd (RIL) being a heavyweight on the index can hold the weak market on a glaring day. One can buy the stock at its current price keeping a stop loss of Rs 895 for higher target of Rs 930. Bajaj Auto has been holding on to its higher levels at the time of clearing and it seems we can see some further short covering in it. One can buy the stock at its current price keeping a stop loss of Rs 1,970 and can quit the position at closing or at Rs 2,040 level whichever is reached. Rajeev Agarwal of dynamixresearch.in
My first call is a sell on Dena Bank. After sharp fall, Dena Bank was consolidating in the range of Rs 72 to Rs 65 but now this range has been broken on downside, so one can sell it here with a stop loss above Rs 68 on closing basis. My initial target is around Rs 61 and next logical target is around Rs 58-57 in next 10-15 trading sessions.
Second call is a sell on Shree Renuka Sugars. One can attempt shorts in the range of Rs 18.50 to Rs 19.50 with a stop loss of about Rs 21 on a closing basis. My initial target is around Rs 17 and next logical target is around Rs 15 in next 10-15 trading sessions.
 
first published: Jul 25, 2013 09:08 am

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