On CNBC-TV18's show Super Six, market gurus Manas Jaiswal of manasjaiswal.com, Sanjeev Agarwal of Dynamix Research & Capital Management and Shardul Kulkarni of Angel Broking, 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 manasjaiswal.com Jaiprakash Associates is making lower tops and lower bottoms on the daily chart. Yesterday it broke the support of Rs 60 with higher volumes. So this trend will continue and we will see further weakness. The stock can test Rs 55 in next one-two trading sessions. One can go short at current levels with a stop loss of Rs 60. UCO Bank has broken an important support of Rs 74 and its 200-day moving average, so we may see a sharp fall. The stock can test Rs 68 in next two-three trading sessions. One can go short at current levels with a stop loss of Rs 74.50. Sanjeev Agarwal of Dynamix Research & Capital Management My first call is Dena Bank. It is looking very weak on the chart. It has broken its very strong support of Rs 79. We can sell it at current market price or in any pullback towards Rs 79.50 with a stop loss above Rs 83 for a target of Rs 74 and Rs 68. My second trading call is Bata India. We can sell Bata at current market price or in any pullback towards Rs 830 with a stop loss above Rs 850 for a target of around Rs 790 and Rs 760. Shardul Kulkarni of Angel Broking First stock that we will recommend is a sell call with regards to Reliance Power June Futures. The chart structure shows a strong lower top, lower bottom cycle and the momentum oscillators on the daily chart clearly indicate that the next leg of the down move has begun. We recommend selling the June Futures contract below the levels of Rs 64.25, place a stop loss at Rs 66.50 and trade bearish for a target of Rs 60 or lower over the next three-five trading sessions. The second stock that we will recommend is a sell call with regards to Raymond. The chart structure shows a cup and handle breakdown on the daily chart and the momentum oscillators clearly indicate that further downside is likely in case of Raymond. Thus we recommend selling the June Futures contract of Raymond below the levels of Rs 256.50, stop loss would be at Rs 261.50 and the first initial target should be at Rs 242.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!