6 trading stocks for short term gain

On CNBC-TV18's show Super Six, market gurus Vishal B Malkan, CMT, Arunesh Madan of Augment Investment and Rajeev Agarwal of 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, CMT

United Spirits is moving into new territory and made a smart move on Friday. I recommend a buy with a stop loss of Rs 2,560 for targets of Rs 2,600-2,625.

My second pick is Tata Consultancy Services (TCS). It has formed a bearish engulfing pattern on daily charts and hourly momentum is bearish. I recommend a sell with a stop loss of Rs 1,485 for targets of Rs 1,455 and Rs 1,440.

Arunesh Madan of Augment Investment

Allahabad Bank has been in a sustained downtrend for the last couple of trading sessions. In yesterday’s trade, after making a low for the year, the stock has rebounded very strongly and formed a hammer pattern on the daily candlestick charts. Look to buy this stock in the region of Rs 122.50-123. Keep a stop loss below the Rs 120 levels on a closing basis. Going forward, we can look for a target of Rs 129 and Rs 132.

After declining from a level of Rs 94-95, Hexaware Technologies has formed a big bullish candle on the daily candlestick charts showing that there appears to be a reversal in the current downtrend. Look to buy this stock in the region of Rs 77.50-78.50. Keep a stop loss below Rs 74 levels on a closing basis and we can expect a target of Rs 86 and Rs 90 in the coming days.

Rajeev Agarwal of dynamixresearch.in

My first call is a sell on ICICI Bank. One can sell it here. Keep a stop loss above Rs 1,240 on closing basis. My initial target is around Rs 1,175 and next logical target is Rs 1,140 in short term.

My second call is a sell on Tata Power. It’s a position call. One can sell Tata Power around Rs 93 level. Keep a stop loss above Rs 97. My initial targets is around Rs 88.50 and next logical target is Rs 83 in next 15-20 trading sessions.