Super Six short term picks for Nov 30

On CNBC-TV18's show Super Six, market gurus Manas Jaiswal of manasjaiswal.com, Arunesh Madan of Founder and Director of Augment Investment Pvt ltd and Rajesh Jain of 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.

Manas Jaiswal of manasjaiswal.com

For last one month Cipla was facing resistance near to Rs 400 but yesterday it broke that resistance with higher volumes. So now we may see a sharp up move, stock can test Rs 420 in next one-two trading sessions. One can buy the stock at current levels with a stop loss of Rs 401.

IDBI Bank has taken support near to 50 percent retracement level of its previous rally and yesterday witnessed good buying interest. So now we may see further up move, the stock can test Rs 110 in next one-two trading sessions. One can buy the stock at current levels with a stop loss of Rs 103.

 

Arunesh Madan, Founder and Director of Augment Investment Pvt ltd

State Bank of India (SBI) has broken and closed about its 15 day moving average in yesterday’s trade. We would look to buy the stock once it begins to trade above the Rs 2140 levels with a stop loss being placed below the Rs 2120 levels on a closing basis. We can expect a target of Rs 2175 and Rs 2200 in the coming days.

Canara Bank has broken its previous intermediate peak of Rs 442 and closed above that level in yesterday’s trade. Going forward we can expect a target of Rs 460-465 in the coming days. One can maintain a stop loss below Rs 432 on closing basis.

 

Rajesh Jain, EVP Retail Research, Religare Securities

Jaiprakash Associates broke out on Tuesday and continued the run up yesterday as well. This indicates that the stock is in strong hands and more upside move may be witnessed in the near term. One can buy the stock at any dip near Rs 92-93 levels keeping a closing stop loss of Rs 90 for higher target of Rs 100 in coming days.

Cipla had been trading in a range of Rs 378-400 levels since the past three weeks. Yesterday the stock broke on the higher side that is quite a positive move for the stock. One may buy the stock at its current price keeping a closing stop loss of Rs 395 for higher targets of Rs 420 plus in coming days.