Super Six: Top chart picks for May 28

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

Jindal Steel & Power has formed a daily bullish candlestick pattern. There are daily divergences on the chart. I recommend a buy with a stop of Rs 300 for targets of Rs 312 and Rs 316.

State Bank of India (SBI) is sustaining below the support of Rs 2,150. Momentum is bearish on hourly chart. I recommend a sell with a stoploss of Rs 2,140 for targets of Rs 2,100 and Rs 2,080.

Arunesh Madan of Augment Investment

After falling from a level of Rs 64.5, Opto Circuits India has made an engulfing bullish pattern on the daily candlestick charts in yesterday’s trade. The stock has also taken very strong support in the region of Rs 43.5 to Rs 44 thereby in the bargain making a double bottom. Look to buy this stock in the region of Rs 47 to Rs 48, keep a stop loss below Rs 44 levels on closing basis and look for a target of Rs 52 and Rs 55 going forward.

Axis Bank formed a bearish pattern on the daily candlestick charts at the peak on Thursday followed by a sideways consolidation in the range of Rs 1,440-1,470. Look to short this stock in the region of Rs 1,474 to Rs 1,478, keep a strict stop loss above Rs 1,485 levels on closing basis and going forward we can look for a target of Rs 1,440 and Rs 1,410 in coming days.

Rajeev Agarwal, www.dynamixresearch.in

I have a sell call on Century Textiles and Industries. It is one of the most underperformed stock of this rally, so one can attempt shorts around Rs 305 to Rs 310 range, keep a stop loss above Rs 321 closing basis. My initial target is around Rs 295 and next logical target is around Rs 282 in short-term.

I have a sell call on Hero Motocorp. One can attempt shorts in this stock around Rs 1,670 level, keep a stop loss above Rs 1,725 on closing basis, book partial profit around Rs 1,615 and hold balance quantity for lower level around Rs 1,150 in short-term.