Super Six: Top chart picks for September 23

On CNBC-TV18's show Super Six, market gurus Pritesh Mehta of IIFL, Shardul Kulkarni of Angel Broking and Vishal B Malkan of malkansview, 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
Our first recommendation is buy on Ambuja Cements. The stock is in a strong uptrend since first week of September and in Friday's trade the stock gave a breakout from an inverted head and shoulder pattern. It also closed above its 200-day moving average. We believe this stock will outperform the entire cement pack in the near-term. Buy above Rs 193 with stop loss of Rs 186 for a target of Rs 206 in next five to six trading sessions.
Our second recommendation is buy on Tech Mahindra. The stock has been in a bull market since the month of May. In last two trading weeks it went through a mild correction, but it has found support at its 50-day moving average. Also on the daily candlestick chart the stock has formed an inverted hammer which suggests a likely reversal in trend. So we expect some sort of buying momentum to come in above Rs 1,300. Buy above Rs 1,300 with stop loss of Rs 1,270 for a target of Rs 1,380 in next four to five trading sessions.
Shardul Kulkarni of Angel Broking
The first stock that we will recommend is a sell call with regards to ICICI Bank October Futures. The chart structure of ICICI Bank clearly shows you a very strong down move in case of Friday's trading session and going forward we recommend shorting the stock in the October series contract. Sell the ICICI Bank October series Futures in the range of Rs 1,010-1,020, place a stop loss at Rs 1,050 and trade bearish for a target of Rs 900 for the entire series for October.
Second stock that we will recommend is a sell call with regards to JP Associates October Futures. In the month of September we have seen a strong rally in case of the stock, but the weekly chart structure is still a very strong lower top lower bottom cycle. We recommend going short in case of JP Associates October Futures below the levels of Rs 39.50. Place a stop loss at Rs 41 and trade bearish for a target of Rs 33 over the next 8-10 trading sessions.
Vishal B Malkan of malkansview
My first pick is Reliance Infra. It has broken an important level of Rs 400 after four months with huge volumes forming bullish candlestick pattern on daily as well as weekly charts. I expect the move to continue. For today I have a stop loss of Rs 400 with a target of Rs 422 and Rs 428.
My second pick is DLF. It has a false breakout above the levels of Rs 160. Price went above Rs 160 and came back yesterday with huge volumes forming a bearish candlestick pattern on daily and as weekly charts. For today I have a sell call with a stop loss of Rs 157 for target of Rs 146 and Rs 142.