Super Six: Stocks you can bet on May 07

On CNBC-TV18's show Super Six, market gurus Manas Jaiswal of manasjaiswal.com, Rajeev Agarwal of www.dynamixresearch.in and Arunesh Madan of Augment Investment, 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

We will see a sharp upmove in Adani Enterprises. The stock can test Rs 235 in next one or two trading sessions. One can buy this stock at current levels with a stop loss of Rs 226.

Sintex Industries has started making higher tops and higher bottoms on daily charts. Now it has broken the resistance of Rs 50 with higher volumes. So we may see further rally. The stock can touch Rs 56 in next one-two trading sessions. One can buy this stock at current levels with a stop loss of Rs 49.

Rajeev Agarwal, www.dynamixresearch.in

My first call is sell on ICICI Bank. After Reserve Bank of India’s (RBI) credit policy, we have seen a strong profit booking in banks. So, one can sell ICICI here around Rs 1,150. Keep a stop loss above Rs 1,190 on closing basis. My initial target is around Rs 1,100 and next logical target is Rs 1,065 in short term.

My second call is sell on NHPC. In the past, we have seen a strong downfall in this counter. One can sell it here around Rs 21. Keep a stop loss above Rs 22.50 on closing basis. Initial target is Rs 19.50 and next logical target is Rs 18 in short term.

 

Arunesh Madan, Augment Investment

Mahindra and Mahindra is trading at the top of its trading range of Rs 840 to Rs 975. In the last two trading sessions, the stock has found very strong resistance around Rs 975 levels. Look to short this stock in the region of Rs 965-970 by keeping a stop loss above Rs 976 levels on a closing basis and going forward we can look for a target of Rs 951 and Rs 935.

ITC has closed below its short term moving average placed on its hourly chart in yesterday’s trade. The momentum indicators have already generated a sell signal. Look to short this stock once it begins to trade below the Rs 325 levels. Keep a stop loss above Rs 329 and look for a target of Rs 317 and Rs 312 in the coming days.