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6 trading stocks for short term gain

On CNBC-TV18's show Super Six, market gurus Manav Chopra of Nirmal Bang, Rajesh Jain of Religare Sec and Rakesh Gandhi of FRR shares, place their bets on two stocks each, thus offering investors a variety of options to choose from.

January 09, 2013 / 09:03 IST
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On CNBC-TV18's show Super Six, market gurus Manav Chopra of Nirmal Bang, Rajesh Jain of Religare Sec and Rakesh Gandhi of FRR shares, 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 of Nirmal Bang
My first pick is Bharat Heavy Electricals Ltd (BHEL). The stock has managed to exceed the falling resistance line from its 2010 highs, which confirms the medium-term trend reversal. The stock is also currently trading above its long-term averages and has a very strong support at Rs 240 on the downside. The momentum indicators on the daily chart have entered into a buy mode and one can maintain a buy with a stop loss of Rs 237 with a target of Rs 260. Unitech is currently trading above the short-term averages and is currently outperforming the market. Keep a stoploss of Rs 36.50 for the target of Rs 42.
Rajesh Jain of Religare Sec DLF has formed a flat pattern on the daily chart, which is a bullish pattern indicating that the stock is in strong hands and buying is expected to continue in the near-term. One can buy the stock at its current price keeping a closing stop loss of Rs 233 for higher target of Rs 245 to be achieved in coming days. UCO Bank has formed a higher bottom, higher top formation on the weekly chart, which is quite bullish. It is trading and sustaining above its important resistance levels of Rs 84 and is looking strong for a further run up towards higher levels. One can buy the stock at its current price keeping a closing stop loss of Rs 84 for higher target of Rs 90 to be achieved in coming days.
Rakesh Gandhi of FRR shares
My first pick for the day is Unitech. The stock has been sliding since last many years. Since May 2011, it has remained below the level of Rs 37 and while remaining below the level of Rs 37, it has formed a double bottom pattern. Yesterday it has crossed the level of Rs 37. For short-term it can be bought for a target of Rs 46 with a stop loss of Rs 35.
My second pick for the day is Cipla. The stock has seen a huge breakout from a three-year consolidation pattern and made a new high. Since last two-three weeks, it has been consolidating but was making higher highs and higher lows pattern indicating that the steam is still left out and it could see higher levels hence can be bought for a target about Rs 465 with a stop loss for Rs 410.
first published: Jan 9, 2013 08:58 am

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