On CNBC-TV18's show Super Six, market gurus Shardul Kulkarni of Angel Broking, Manas Jaiswal of manasjaiswal.com and Aditya Agarwal of Way2Wealth Securities, 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.
Shardul Kulkarni of Angel BrokingThe first stock that we will recommend is a buy call with regards to Oracle Financial Services. The chart structure shows the possibility of a breakout above Rs 2,740. Buy above Rs 2,740, place a stop loss at Rs 2,690 and trade bullish for a target of Rs 2,850 over the next three-five trading sessions.
The second stock that we will recommend a sell call with regards to DLF July futures. The chart structure indicates a strong lower top, lower bottom cycle and the momentum oscillators have confirmed that the next leg of the downmove has begun. As a result, we would recommend selling into DLF July futures in the range of Rs 182 to Rs 184, place a stop loss at Rs 190.50 and trade bearish for a target of Rs 165 over the next seven-eight trading sessions.
Manas Jaiswal of manasjaiswal.com Tata Motors has broken the resistance of Rs 290 and started making higher tops and higher bottoms on the daily chart. So we may see further upmove. The stock can test Rs 305 in next two-three trading sessions. One can buy the stock at current levels with a stop loss of Rs 286. PTC India has made a bullish engulfing pattern on the daily chart and oscillators are showing positive crossover. So we may see a recovery. The stock can test its previous high of Rs 52 in next one-two trading sessions. One can buy the stock at current levels with a stop loss of Rs 48.
Aditya Agarwal of Way2Wealth Securities
My first call for the day is a buy call on United Phosphorous. The stock has corrected from Rs 164 to Rs 125 levels in last couple of trading sessions but for the last one week or so, the stock is consolidating in a range of Rs 125 to Rs 135-136 levels. Yesterday we saw a breakout above Rs 135 and the stock has closed around those levels only. So from these levels we are expecting a short covering rally in United Phosphorous which may take the stock towards Rs 143-145 levels. So at current levels one can initiate long positions in United Phosphorous keeping a stop loss of Rs 130 and on higher side target will be Rs 143-145.
Second call for the day will be a buy call on Bank of India. All the public sector undertaking (PSU) banks have seen severe beating in last couple of weeks but now at lower levels we are seeing some sign of short covering in all the PSU banks. In yesterday’s session BoI shed almost 4-4.5 percent shares in open interest (OI) and with this we saw some 2.5 percent positive movement in BoI. On the lower side, Rs 215-216 is also a very strong support area and from those levels only stock has seen a bounce back. So we are expecting the short covering may continue in BoI and on higher side this stock may test Rs 240-245 levels in next three-four trading sessions. So at current levels one can initiate long positions in BoI with a target of Rs 240-245 and on lower side, the stop loss will be Rs 219.
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