Super Six trading ideas for July 18

On CNBC-TV18's show Super Six, market gurus Manas Jaiswal, manasjaiswal.com, Shardul Kulkarni of Angel Broking and Gaurav Ratnaparkhi of Sharekhan, 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 Punj Lloyd was trading in a rage of Rs 32 and Rs 34 for the last seven-eight trading sessions but yesterday it has broken this range downside. So, we may see further weakness. The stock can test Rs 29 in next one-two trading sessions. One can go short at current levels with a stop loss of Rs 33. Sintex Industries is making lower tops and lower bottoms on the daily chart. Yesterday it has broken the support of Rs 38 with higher volumes. So, we may see further weakness. Stock can test Rs 33 in the next two-three trading sessions. So, one can go short at current levels with the stop loss of Rs 39. Shardul Kulkarni of Angel Broking
We have a sell call on Bank of Baroda July Futures. Banking stocks have underperformed the market over the past couple of trading sessions and the charts of most banking counters are weak. Going forward we see a decent trading opportunity in case of Bank of Baroda, sell the July Futures contract with a stop loss of Rs 572 and play for a target of Rs 515 over the next six-eight trading sessions.
The second stock that we will recommend is a buy call with regards to Bharat Petroleum Corporation (BPCL). The stock has bounced off from its multiple support levels at Rs 334 and going forward, we expect yet another bounce from these levels. Buy the stock with the stop loss of Rs 333 for a target of Rs 365 over the next 4-6 trading sessions.
Gaurav Ratnaparkhi of Sharekhan Reliance Communications opened gap up in the last trading sessions. However, it couldn’t sustain in the higher territory. Overall the stock is showing signs of exhaustion. The angle of assent is decreasing since last few days and the daily momentum indicator has given a fresh sell signal. The stock has considerable downside potential from current level and from trading perspective stop loss for RComm Futures can be placed at Rs 145.80 and target on the downside will be Rs 135. Indian Hotels is in a medium-term downtrend. It recently formed a short-term pullback before the three-way pullback. However, the countertrend move phase consistently at 20-week simple moving average and from there the stock has resumed with a larger downtrend. So, one can initiate fresh short positions in Indian Hotels Futures with stop loss of 51.50 and target on the downside will be 47.50.