Super Six: Top chart picks for April 29

On CNBC-TV18's show Super Six, market gurus Vishal Kshatriya of Edelweiss, Rakesh Gandhi of FRR Shares 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, Edelweiss
My first pick for the day is going short on Ambuja Cements. The stock has declining trend line resistance at current levels. Open interest data indicates short build up in the stock. I am expecting supply in the stock from current levels and hence recommends going short on May futures at Rs 190 with a target price of Rs 180 and a stop loss above Rs 195.
My second pick for the day is going long on Cipla. The stock has given declining trend line breakout with good volumes on its daily charts. Technical oscillators are also trading with a positive bias. Traders can initiate longs at current market price with a target price of Rs 435 and stop loss at Rs 395.
  Rakesh Gandhi, FRR Shares
My first pick for the day is Larsen and Toubro. The stock has formed a falling channel pattern and has already seen a breakout from there. Further, while consolidating, the stock has also formed a double bottom pattern having a neckline at Rs 1,530. Once the stock sustains above Rs 1,530, the momentum is likely to further pick up and hence a buy call for a target of Rs 1,590 with a stop loss of Rs 1,475.
My second pick for the day is Maruti Suzuki India. After forming a very large base, the stock has eventually closed at a highest level on a weekend since September 2009. Long term chart patterns are indicating that stock could see levels of Rs 2,000 in a time period of 12 months. However, for a short term, it can be bought for a target of Rs 1,800 with a stop loss of Rs 1,675.
  Shardul Kulkarni, Angel Broking
The first stock that we will recommend is a sell call with regards to DLF. The stock has actually broken down below its important support level of Rs 239 and going forward we expect further downsides in case of the stock. Sell the May futures contract of DLF in the range of Rs 239-242. Place a stop loss at Rs 247.50 and trade bearish for a target of Rs 220 over the next four-six trading sessions.
The second stock that we would recommend is a sell call with regards to Dena Bank. The charts structure of Dena Bank is significantly bearish as compared to most other banking counters. Thus, we recommend selling the May futures contract of Dena Bank in the range of Rs 93-94. Place a stop loss at Rs 97.50 and trade bearish for a target of Rs 82 over the next six-eight trading sessions.