Super Six trading ideas for the day

On CNBC-TV18's show Super Six, market gurus Shardul Kulkarni of Angel Broking, Vishal Kshatriya of Edelweiss and Rajesh Jain of Religare Securities, 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
First stock is a buy on Tata Coffee. The chart structure of Tata Coffee shows a very strong higher top-higher bottom cycle. The stock has given a corrective in the range of Rs 1,005 to Rs 1,010 which is a good opportunity to buy the stock. Buy the stock in this mentioned range place a stop loss at Rs 988 and trade bullish for a target of Rs 1,065 to Rs 1,070 in the next five-six trading sessions.
In the pharmaceutical pack the largecap Ranbaxy Laboratories has given a good strong trend line breakout in yesterday’s trading session. We recommend buying this stock in the range of Rs 535 to Rs 540, place a stop loss at Rs 520 and trade bullish for a target of Rs 570 in the next four-seven trading sessions.
 
  Vishal Kshatriya of Edelweiss
First pick is going short on Jaiprakash Associates. The stock has given head and shoulder pattern breakdown with good volumes on its hourly chart. Oscillators on daily chart have also given sell signal. Open interest data indicates marginal short build-up in the stock. I would recommend traders to go short in a range of Rs 85 to Rs 86 with a target price of Rs 80 maintaining stop loss above Rs 89.
Second pick is a short on HDIL. The stock has given trend line breakdown with good volumes on its intraday chart. Oscillators continue trade with a negative bias. Open interest data indicates aggressive short build-up in the stock. I would recommend traders to go short in a range of Rs 105 to Rs 106 with target price of Rs 98 maintaining stop loss above Rs 109.
Rajesh Jain of Religare Securities
Yesterday when the market was falling power stocks were seeing buying in them. Power Grid has not participated in the recent run up but is now set for a break towards higher levels. One can buy the stock at its current price keeping a closing stop loss of Rs 118 for a target of Rs 125 in the coming sessions. Jubilant Foodworks has broken out from a downward facing channel on the intraday chart. Traders can buy the stock at around Rs 1,320-1,330 levels keeping Rs 1,300 as a closing stop loss for a target of Rs 1,380 in coming days.