HomeNewsBusinessStocksCheck out: Super six ideas for June 26

Check out: Super six ideas for June 26

Gaurav Ratnaparkhi of Sharekhan advises to buy Reliance Infrastructure from short-term perspective. Stop loss will be Rs 323 and target will be Rs 349, he adds.

June 26, 2013 / 10:51 IST
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On CNBC-TV18's show Super Six, market gurus Vishal Malkan of malkansview.com, Arunesh Madan of Augment Investment and Gaurav Ratnaparkhi of Sharekhan, 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 Malkan, malkansview.com
My first pick is Tata Consultancy Services (TCS). It has broken an important support of Rs 1,400 on closing basis. I recommend a sell with a stop of Rs 1,405 and for targets of Rs 1,375 and Rs 1,360.
My second pick is Tata Motors. It has made a bearish pattern on hourly chart. Hourly chart is tagging on the lower Bollinger band. I recommend a sell with a stop of Rs 286 for targets of Rs 277 and Rs 274. Gaurav Ratnaparkhi, Sharekhan
I have a buy call on Reliance Infrastructure. The stock has fallen in last few weeks. However, the fall has halted near the previous low of Rs 315. The stock has bounced thereon. If we look at internals of the recent fall, we can see that every time it has taken support near daily lower Bollinger band – the stock has bounced towards its crucial daily moving averages. The same is expected this time as well. So I have a buy recommendation from short-term perspective. Stop loss will be Rs 323 and target will be Rs 349.
My second pick is United Spirits on the long side. From the high of Rs 2,608, this stock has done a complex correction. To complete last leg of the correction it has formed a hammer which is a bullish candlestick pattern. This bullish pattern has been formed at daily lower Bollinger band and is accompanied by significant amount of volumes, which further increases its bullish significance. So one can buy this stock at current level with stop loss of Rs 2,240 for target of Rs 2,410, the timeframe will be two-three sessions. Arunesh Madan, Augment Investment HDFC Bank has formed a bullish pattern on the daily candlestick charts in Tuesday’s trade. Look to buy HDFC Bank futures at the current market price of Rs 634, keep a stop loss below Rs 626 levels on a closing basis and going forward we can look for a target of Rs 645 and Rs 660. TCS was moving in a narrow range of Rs 1,410 to Rs 1,435. In Tuesday’s trade, the stock has broken down from this trading range and has closed below a major psychological support level of Rs 1,400. Look to short this stock at the current market price of Rs 1,390, keep a stop loss above Rs 1,410 and look for a target of Rs 1,370 and Rs 1,350 going forward.
first published: Jun 26, 2013 08:51 am

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