Super Six short term picks for June 04

On CNBC-TV18's show Super Six, market gurus Shardul Kulkarni of Angel Broking, Arunesh Madan, Founder and Director of Augment Investment Pvt ltd and Rajesh Jain, EVP Retail Research, Religare Sec, 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 Broking
First stock is sell call on Tata Power June Futures in the range of Rs 91.50-93. The stop loss on the higher side should be placed at Rs 94.5 and target in the next 4-6 trading sessions is at Rs 86.
Second stock is Bata India. In Bata we have seen the first signs of weakness. Thus we recommend selling Bata below the levels of Rs 852. The stop loss will be at Rs 874 and target in the next 4-6 trading sessions is at Rs 800.
  Arunesh Madan, Founder and Director of Augment Investment Pvt ltd
Sell Bata India at the current market price (CMP) as the stock has formed an engulfing bearish pattern on the weekly candlestick charts. Look for a target of Rs 822 and Rs 807 sometime during this week and keep a stop loss above Rs 885 on a closing basis.
I have a sell call in Cairn India at the CMP as in my opinion the corrective rally that started from a level of Rs 300 on the stock seems to be getting over. Look for a retest of Rs 300 in the coming days and keep a stop loss above Rs 325 on a closing basis.

Rajesh Jain, EVP Retail Research, Religare Sec
Cement stocks have been holding on in the fall in the market. UltraTech Cement closed higher in last two trading sessions when market was falling. One can buy the stock near its important support of Rs 1430, keeping a closing stop loss of Rs 1400 for higher target of Rs 1500. Tata Motors has fallen sharply in last 4 trading sessions. The stock has a lot of support near Rs 218 levels and if any fall comes one can buy the stock near Rs 218 keeping a closing stop loss of Rs 212 for target of Rs 235 in coming days.