On CNBC-TV18's show Super Six, market gurus Vishal Malkan, CMT, Shardul Kulkarni of Angel Broking and Vishal Kshatriya of Edelweiss, 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, CMTSell Reliance Infrastructure. After a sustained move from Rs 300 to Rs 400 it is showing some cracks on the daily charts. Hourly momentum has turned bearish. I recommend a sell with a stop loss of Rs 395 and target of Rs 378-372. Sell Reliance Capital. It has formed some bearish candlestick pattern on daily chart. Hourly momentum has entered into bearish zone, hourly charts have also started tagging on lower bollinger band. I recommend a sell with a stop loss of Rs 375 for target of Rs 358-355.Shardul Kulkarni of Angel BrokingSell Bajaj Auto. We are seeing that the stock has given a trend line breakdown and the stock continues to move in lower top, lower bottom cycle. Thus we expect further downside in case of Bajaj Auto. Sell the May Futures contract of Bajaj Auto in the range of Rs 1830-1840, place a stop loss at Rs 1880 and trade bearish for a target of Rs 1680 over the next six-eight trading sessions. Sell DLF. The gap down opening in Monday’s trading session indicates that further selling pressure is expected in the counter and the next leg of the downfall has already begun. Thus we recommend selling DLF May Futures in the range of Rs 231-233, place a stop loss at Rs 236.5 and trade bearish for a target of Rs 222 over the next three-five trading sessions.Vishal Kshatriya of EdelweissSell Hindalco Industries. Stock has seen aggressive build up which is indicated by open interest data. Technical oscillators are also trading in extremely overbought zone. This clearly warrants some short-term correction in the stock. Traders can initiate short at Rs 105 with a target of Rs 100, maintain stop loss at Rs 108. Sell Bank of Baroda (BoB). Stock has breached and closed below its short-term support of 20 day moving average. Besides this open interest data also indicates aggressive short buildup in previous trading sessions. Traders can initiate short on May Futures in the range of Rs 690-695 with a target of Rs 670, maintain stop loss above Rs 710.
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