Super Six: Top chart picks for July 15

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 IDFC has started making higher tops and higher bottoms on the daily chart and it has made a morning star pattern on the weekly chart. So we may see a recovery. The stock can test Rs 140 in next two-three trading sessions. So, one can buy the stock at current levels with a stop loss of Rs 132. Adani Power is looking weak on the charts. On Friday has broken the support of Rs 39.50 with higher volumes. So we may see a sharp fall, the stock can test Rs 36 in next one-two trading sessions. One can go short with a stop loss of Rs 40.50. Shardul Kulkarni of Angel Broking
First stock that we will recommend is a buy call with regards to Bharat Petroleum Corporation Ltd (BPCL). The overall chart structure of BPCL suggests that the stock is extremely oversold on the daily as well as the weekly momentum oscillators and going forward a bounce can be expected from the current levels. We recommend buying the stock only and only above Rs 346, place a stop loss at Rs 334 and trade bullish for a target of Rs 370 over the next seven-ten trading sessions.
Second stock that we will recommend is a sell call with regards to Jaiprakash Associates. The chart structure indicates a clear flag breakdown and going forward expect the stock to move towards the prior lows of around Rs 45. Sell the stock below the levels of Rs 51.35 in the July futures contract. Place a stop loss at Rs 53.55 and trade bearish for a target of Rs 45 over the next six-eight trading sessions. Gaurav Ratnaparkhi of Sharekhan
I have a buy call on Bharat Forge. The stock has recently broken out on the upside bullish triangular pattern. Along with that it has moved out of a short-term falling channel. These breakouts have occurred on the backdrop of bullish daily momentum indicator, which suggests that the stock has a higher probability to sustain in the higher territory. Also the stock is trading above its crucial daily moving averages, which will provide support to the stock. So I am expecting this stock to move up till Rs 234 from two-three days perspective and stop loss can be placed at Rs 222.50.
My second buy call is on Reliance Infrastructure. It has been running towards north since last three weeks. In terms of wave structure it is forming extension on the upside on the daily timeframe whereas on the hourly charts it has taken support at the crucial support zone of 40 hourly exponential moving average and hourly lower Bollinger band. So from current levels the stock is having considerable upside potential and short-term target will be Rs 400 and stop loss can be placed at Rs 377.40.