On CNBC-TV18's show Super Six, market gurus Vishal Kshatriya of Edelweiss, Manas Jaiswal of manasjaiswal.com and Shardul Kulkarni of Angel Broking 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 of Edelweiss
I have a long call on Godrej Industries. The stock has given declining trend line breakout with good volumes on intraday chart. Technical oscillators on daily chart have also given a buy signal. Derivatives data indicates long build-up in stock in previous trading session. I would recommend traders to go long at current market price with a target price of Rs 320 and Rs 325 and maintain stop loss below Rs 298.
I have a short call on Rural Electrification Corporation (REC). The stock has given head and shoulder pattern breakdown with good volumes on its daily chart. The stock has closed below important support of 200 day moving average (DMA). Derivatives data indicates short build-up in stock in previous trading sessions. Traders can go short on June Futures in the range of Rs 218 to Rs 220 with target price of Rs 205, maintain stop loss above Rs 225.
Manas Jaiswal of manasjaiswal.com
Arvind has broken the neckline of inverse head and shoulder pattern on the daily chart with higher volumes. So, we may see a sharp upmove. The stock can test Rs 95 in next one-two trading sessions. One can buy the stock at current levels with stop loss of Rs 85.
Syndicate Bank was trading in the range of Rs 125 and Rs 132 for the last seven-eight trading sessions, but now it has broken this range upside with higher volumes, so the stock can test Rs 145 in next two-three trading sessions. One can buy it with a stop loss of Rs 130.
Shardul Kulkarni of Angel Broking
I have a sell call on Larsen and Toubro (L&T) June Futures. In the hourly chart we are seeing a three wave upmove being complete and going forward we expect the daily chart downtrend to continue in case of L&T. Thus we recommend selling L&T June Futures with a stop loss of Rs 1,450 on the upside for a target of Rs 1,370 over the next three-five trading sessions.
I have a buy call on HCL Technologies. The daily chart shows a bullish engulfing pattern at an important retracement support level. Buy the stock with stop loss of Rs 721 for a target of Rs 800 over the next seven to ten trading sessions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.