Super Six: Top chart picks for June 20

On CNBC-TV18's show Super Six, market gurus Manas Jaiswal of manasjaiswal.com, Vikrant Jadeja of Vibrant Trades 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

Punj Lloyd is making lower tops and lower bottoms on the daily chart. Yesterday it broke the support of Rs 38 with higher volumes. So we may see further weakness. The stock can test Rs 34 in next one-two trading sessions. One can go short at current levels with a stop loss of Rs 39.

Hero Motocorp has made a bearish engulfing pattern on the daily charts, so we may see a correction. The stock can test its recent low of Rs 1,575 in next one-two trading sessions. One can go short at current levels with a stop loss of Rs 1,645.

Vishal Kshatriya of Edelweiss

My first pick for the day is going long on Jubilant Foodworks. Stock has formed bullish candle pattern on its daily chart. Technical oscillators have also given a fresh buy signal. Stock could trade with a positive bias in days to come and hence I recommend going long in a range of Rs 960-970 with a target price of Rs 1,050 and maintain stop loss below Rs 930.

My second pick for the day is going long on Tech Mahindra. Stock has given channel pattern breakout with good volumes on its daily chart. Technical oscillators are also trading with a positive bias. Derivatives data indicates long build-up in the stock. I would recommend traders to go long at current market price with a target price of Rs 1,080 and maintain stop loss below Rs 970.

 

Shardul Kulkarni of Angel Broking

First stock that we will recommend is a sell call with regards to Tata Power June Futures. The chart structure clearly shows a very strong lower top, lower bottom cycle and the stock has given a decent pullback which traders should use to sell. Sell the stock below the levels of Rs 81.50 on the June Futures contract, place a stop loss at Rs 84.05 and trade bearish for a target of Rs 74 over the next three-five trading sessions.

The second stock that we will recommend is a buy call with regards to Mahindra Satyam. The chart structure clearly shows a very strong trend line breakout in yesterday's trading session and going forward we expect a significant upside in case of this counter. Buy the stock on declines towards Rs 114, place a stop loss at Rs 109 and trade bullish for a target of Rs 125 over the next six-eight trading sessions.