Super Six: Top chart picks for Friday

On CNBC-TV18's show Super Six, market gurus Vishal Kshatriya of Edelweiss Securities, Manas Jaiswal of manasjaiwal.com and Manav Chopra of Nirmal Bang, 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.

Vishal Kshatriya, Edelweiss
I have a long call on Colgate Palmolive (India). The stock has bounced back from its important support level of Rs 1,200 along with good volumes. This indicates emerging demand for the stock near its support level. Open interest data of previous trading session indicates long build-up in the stock. I would recommend traders to go long in the range of Rs 1,250-1,260 with target price of Rs 1,350, maintain stop loss below Rs 1,200.
I have a long call on Bata India. The stock has given declining trend line breakout with good volumes on its daily charts. The technical oscillators are also trading with a positive bias. Open interest data indicates long built-up in the stock. Traders can initiate long at current market price with a target price of Rs 900 and Rs 920, maintain stop loss below Rs 800.
Manas Jaiswal, manasjaiswal.com Jain Irrigation Systems has broken the neckline of inverse head and shoulder pattern on the daily charts with high volumes, so we may see a sharp upmove. The stock can test Rs 65 in next one-two trading sessions. Therefore, one can buy the stock at current levels with a stop loss of Rs 56. Crompton Greaves is making higher tops and higher bottoms on the daily chart. Yesterday it broke its resistance of Rs 92 with higher volumes, so we may see further upmove. This stock can test Rs 100 in next one-two trading sessions. One can buy the stock at current levels with a stop loss of Rs 90.
Manav Chopra, Nirmal Bang
My first pick is Jain Irrigation Systems. The stock has given a breakout from its bullish inverted head and shoulder pattern and has confirmed a trend reversal signal. It has series of support at lower levels which is around Rs 56 and Rs 57 and one should maintain a buy on dips approach, keep a stop loss of Rs 54 for an upside target of Rs 66.
My next pick is Bharti Airtel. The stock after couple of months of consolidation has managed to close decisively above the crucial hurdles of Rs 350 with a bullish candle accompanied by above average volumes. The recent breakout also further validates it and one should maintain a buy, keep a stop loss of Rs 340 for an upside target of Rs 380.