Super Six short term picks for May 23

On CNBC-TV18's show Super Six, market gurus Manas Jaiswal of manasjaiswal.com, Manav Chopra (CMT Technical Research Analyst) of Nirmal Bang and Rakesh Gandhi of FRR share, 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 Jain Irrigation Systems has made a strong base near to Rs 66. Yesterday it witnessed good buying interest. So we may see a sharp upmove. This stock can test Rs 72 in next two-three trading sessions. Dabur India has made a bullish engulfing pattern on daily charts and oscillators are showing positive crossover. So we may see recovery, stock can test Rs 162 in next one-two trading sessions. One can buy the stock at current levels with a stop loss of Rs 156. Manav Chopra, CMT Technical Research Analyst at Nirmal Bang
First call is on Tata Motors. The stock has breached the rising trendline from its recent lows, which confirms a short-term trend reversal. This stock is also currently trading below its important support areas and is currently closed below its long-term averages. There are strong resistances at Rs 296-298 on the upside. One can maintain a sell on rise approach with a stop loss of Rs 300 for a downside target of Rs 275.
Next call is on ITC. The stock has formed a bullish engulfing pattern at the strong support areas of Rs 332, which further validates it along with the positive reversal pattern on the momentum indicators. The overall parameter suggests that the advance is not yet done and one can expect further rallies into the stock. One can buy with a stop loss of Rs 330 for an upside target of Rs 350. Rakesh Gandhi of FRR Share
My first pick for the day is Raymond. The stock has been making higher highs since it formed a low in the month of April. Recently in last few weeks, it has been remaining in a sideways kind of trend and has recently breached a rising support trendline indicating that lower levels are coming and hence it can be sold for a lower target of Rs 280 with a stop loss of Rs 308.
My second pick for the day is Tech Mahindra. The stock opened yesterday with a gap up and lost almost all the gains during the day and closed at the lowest point of the day, though it closed in a positive territory. Short-term hourly charts and volumes pattern indicate that once again the activity would pick up and hence can be bought for a higher target of Rs 990 with a stop loss of Rs 910.