Top super six stocks ideas for May 08

On CNBC-TV18's show Super Six, market gurus Manas Jaiswal of manasjaiswal.com, Rajeev Agarwal of dynamixresearch.in 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.

Manas Jaiswal, manasjaiswal.com
After breaking a strong base near Rs 58, PTC India bounced back sharply with higher volumes. Oscillators are showing positive crossover on the daily charts; so we may see further recovery. Stock can test Rs 64 in one-two trading sessions. One can buy the stock at current levels with a stop loss of Rs 59. Punj Lloyd has given a triangle breakout on the daily charts. So we may see a sharp up move. Stock can test Rs 60 in next one-two trading sessions. One can buy the stock at current levels with a stop loss of Rs 53.50. Rajeev Agarwal, dynamixresearch.in
Sell GAIL. I feel that market is quite overbought now so one can attempt short in it around Rs 345-350 levels, keep a stop loss around Rs 355 on closing basis. On lower side, we expect target around Rs 335-323 in short-term.
Sell Reliance Capital. One can sell it here in any pullback towards Rs 392-395 levels, keep a stop loss above Rs 415 on closing basis. My initial target is around Rs 355 and lower side it may touch Rs 320 level again. Shardul Kulkarni, Angel Broking
Buy Grasim Industries. The chart structure clearly shows a very strong flag breakout of the daily chart and going forward we expect significant upside in the stock. From a trading perspective, buy the stock on every decline towards Rs 2980, place a stop loss at Rs 2935 and trade bullish for a target of Rs 3100 in the next three-five trading sessions.
Sell Steel Authority of India (SAIL). SAIL is the one where in significant correction is likely. Thus we recommend selling May Futures contract of SAIL only below the level of Rs 63. Sell below Rs 63, place a stop loss at Rs 65 and trade bearish for a target of Rs 57 over the next six-eight trading days.