Super Six: Short term picks for May 29

On CNBC-TV18's show Super Six, market gurus Vishal B Malkan, www.malkansview.com, Arunesh Madan, Augment Investment and Rajeev Agarwal, www.dynamixresearch.in, 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 B Malkan of www.malkansview.com

Sell Sun TV Network. It has closed below the important support of Rs 410 on a closing basis and forming a bearish candlestick pattern on daily chart. Hourly momentum has entered bearish zone. Sell Sun TV with a stop loss of Rs 410 and target of Rs 398 and Rs 394.

Buy Tata Consultancy Services (TCS). It has managed to close above the important resistance of Rs 1500 on a closing basis with high volumes. I recommend a buy with a stop loss of Rs 1500 for target of Rs 1530 and 1540.

Arunesh Madan, Augment Investment

Tech Mahindra has broken out of its 34 and 100 day moving average placed on its daily chart in yesterday’s trade. Look to buy this stock on any pullback in the region of Rs 980-985, keep a stop loss below Rs 970 on closing basis and look for a target of Rs 1000-1020 going forward.

Tata Steel was consolidating in the range of Rs 308-320 over the last couple of trading sessions. In yesterdays trading session the stock has managed to come out of that trading range and closed at the highest point of the day. Look to buy this stock in the region of Rs 321-319, keep a stop loss below Rs 317 on a closing basis and going forward we can expect a target of Rs 327 and Rs 335.

Rajeev Agarwal, www.dynamixresearch.in

Sell Reliance Power in the range of Rs 76.5-78, keep a stop loss above Rs 80 on closing basis, book partial profit around Rs 73 and below Rs 72 it may correct to Rs 67 in short-term.

Sell Indiabulls Real Estate with a target of Rs 76 and Rs 70.