On CNBC-TV18's show Super Six, market gurus Parag Doctor, Head - Trading Strategies, Keynote Capital, Manas Jaiwal of manasjaiswal.com and Arunesh Madan of Augment Investment, 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.
Parag Doctor, Head - Trading Strategies, Keynote Capital
We would like to recommend to sell ONGC. This stock has struggled to cross the resistance from the 200-day average, which is at Rs 265. The stock is heading for the recent support at Rs 240 and can be sold with a stop loss of Rs 265. Bajaj Auto is in the defensive two-wheeler space and has shown technical strength by crossing the recent resistance. The stock is heading towards the 200-day average, which is around Rs 1,630 and can be bought with a stop loss of Rs 1,525.
Manas Jaiwal of manasjaiswal.com
My first pick is Bombay Dyeing. After taking support near the 200-day moving average, the stock bounced back sharply and yesterday it broke the resistance level of Rs 490 with higher volumes, so now the stock can test Rs 530 in the next 3-4 trading sessions. One can buy it with stop loss of Rs 480. Crompton Greaves made a bearish engulfing pattern on the daily chart and oscillators are showing negative crossover. So we may see further weakness in the stock and it can test Rs 110 in the next 2-3 trading sessions. One can go short with a stop loss of Rs 119.
Arunesh Madan of Augment Investment
Sell Bank of Baroda in the ranger of Rs 725-730, keeping a stop loss above Rs 735 levels on a closing basis. The corrective rally, which started from the level of Rs 615 seems to be getting over as the stock has made a engulfing bearish pattern on the daily candlestick charts in yesterdays trade. Look for a target of Rs 675 in the coming days.
I have a sell call in PNB at the CMP as the corrective rally, which started in the stock from a level of Rs 700 seems to be getting over. Keep a stop loss above Rs 785 on a closing basis and look for a retest of Rs 750 in the coming days.
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