Super Six: Top chart picks for Jan 31

On CNBC-TV18's show Super Six, market gurus Manav Chopra, Nirmal Bang, Vikrant Jadeja, vibrantraders.com and Manas Jaiswal of manasjaiswal.com, 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.

  Manav Chopra, Nirmal Bang
My first pick is IndusInd Bank. The stock has been a complete outperformer in the markets recently and has been forming a series of higher highs and lows. The counter has managed to exceed the crucial resistance of Rs 430. This suggests the possibility for the stock to exceed its recent January highs. The oscillators on the daily chart continue to remain in a buy mode, which is a positive signal. One can maintain a buy on dips approach with a stop loss of Rs 425 for an upside target of Rs 460. Tata Power after a short-term consolidation has breached the crucial support of Rs 104 with a big bearish candle accompanied by sharp volumes which is a bearish signal. The stock has also closed below the short-term averages and important support clusters. This suggests a short-term trend reversal. One can maintain a sell on rise approach with a stop loss of Rs 106 for a downside target of Rs 97.
Vikrant Jadeja, vibrantraders.com
After a good amount of consolidation in a trading range for almost two weeks Ambuja Cements has given a breakout in last trading session in last few minutes. We can expect higher levels in this counter in next one or two trading sessions. Buy Ambuja Cement around Rs 201 with closing stop loss of Rs 197. Expect a target of Rs 208-210 in next one-two trading sessions.
As per technicals we can say that Aditya Birla Nuvo is ready to make new 52-week high in next one-two trading sessions. Buy Aditya Birla Nuvo around Rs 1,160 with closing stop loss of Rs 1,145. Expect a target of Rs 1,190 or higher levels in next one-two trading sessions.
Manas Jaiswal of manasjaiswal.com
After 10 days consolidation Ambuja Cements has broken the resistance of Rs 200 with higher volumes. Now stock can test its previous high of Rs 208 in next two-three trading sessions. One can buy the stock at current levels with a stop loss of Rs 198. Unitech has taken support near to 61.80 percent retracement level of its previous rally and bounced back sharply. Now the stock can test Rs 39 in next two-three trading sessions. One can buy the stock at current levels with a stop loss of Rs 34.50.