Super Six trading ideas for May 20

On CNBC-TV18's show Super Six, market gurus Manas Jaiswal, manasjaiswal.com, Manav Chopra, CMT Technical Research Analyst at Nirmal Bang and Rakesh Gandhi of FRR share, 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

DLF has given a triangular breakout on the daily charts. So we may see a sharp upmove. The stock can test Rs 260 in next one-two trading sessions. So, one can buy the stock at current levels with a stop loss of Rs 244.

Bharat Heavy Electricals (BHEL) has broken an important resistance of Rs 200 with higher volumes. Now, it can test its 200 day moving average (DMA), which is placed at Rs 215 in next one-two trading sessions. One can buy the stock at current levels with a stop loss of Rs 199.

Manav Chopra, CMT Technical Research Analyst at Nirmal Bang

My first pick is GMR Infrastructure. The stock has given a breakout from its descending triangle pattern and has managed to exceed its long-term averages. This stock is also currently trading above its recent swing high, which is a bullish signal. The recent rise has accompanied by very good volumes and one should maintain a buy on dips approach with a stop loss of Rs 23 for an upside target of Rs 26.

My next call is on Jaiprakash Associates. This stock after a long-term decline has given a breakout from its bullish inverted head and shoulder pattern and it is currently trading above its important Fibonacci clusters. The recent rise has accompanied by good volumes and is currently trading above its important crucial hurdles. It has a strong support at Rs 82. One can maintain a stop loss of Rs 80 for an upside target of Rs 86.

Rakesh Gandhi of FRR shares

My first pick for the day is Reliance Capital. Stock has rallied and found resistance around Rs 388 level and has declined in last two days. Once again higher highs and higher low pattern is clearly visible indicating the momentum is likely to pick up now hence the stock can be bought for a target of Rs 410 with a stop loss of Rs 360.

My second pick of the day is Axis Bank. Recently the stock has seen a breakout from a small pennant formation. Further it has also closed at a highest level since April 2011 on the last weekend indicating that the momentum is likely to continue and hence it can be bought for a target of Rs 1,585 with a stop loss of Rs 1,490.