Super Six short term picks for Nov 05

On CNBC-TV18's show Super Six, market gurus Shardul Kulkarni of Angel Broking, Arunesh Madan of Augment Investment and Manas Jaiswal of manasjaiswal.com, 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.

Shardul Kulkarni of Angel Broking
A buy call on Lakshmi Machine Works. The chart structure of LMW suggests a strong flag formation. Buy only above Rs 2,160. The breakout of the flag formation will take place above Rs 2,160. Place a stop loss at Rs 2,100 and trade bullish for a target of Rs 2,300 in the next six-eight trading sessions.
Buy the November contract of Jindal Steel & Power in the range of Rs 389 to Rs 390. The support levels on the lower side are at Rs 385, place a stop loss at Rs 384 and trade bullish for a target of Rs 405.
  Arunesh Madan of Augment Investment
After rallying from a level of Rs 122 Karnataka Bank has formed a doji pattern on the daily candlestick charts along with a negative divergence on the relative strength index (RSI) indicator the stock looks tired in the range of Rs 139 to Rs 140. Look to short this stock in the region of Rs 138 to Rs 139, keep a strict stop loss above Rs 141 levels on closing basis and look for a target of Rs 132 and Rs 127 in the coming days. Indian Oil Corporation (IOC) has closed at a fresh intermediate peak in yesterday’s trade and this stock is looking the strongest in the OMC pack, look to buy this stock in the region of Rs 259 to Rs 261, keep a stop loss below Rs 255 levels and look for a target of Rs 269 and Rs 275 in the coming days.
  Manas Jaiswal of manasjaiswal.com Petronet LNG has given a triangular breakout on daily charts, so we may see a sharp upmove now and the stock can test Rs 178 in the next one-two trading session. One can buy the stock at current levels with a stop loss of Rs 170. Jaiprakash Power Ventures is making higher tops and higher bottoms on the daily charts. On Friday the stock witnessed good buying interest, so now the stock can break its recent high of Rs 41 and can test Rs 42.50 in next two-three trading sessions. One can buy this stock at current levels with a stop loss of Rs 38.