HomeNewsBusinessStocksCheck Out: Super Six stocks for June 11

Check Out: Super Six stocks for June 11

On CNBC-TV18's show Super Six, market gurus Parag Doctor, Head - Trading Strategies, Keynote Capital, Manas Jaiwal of manasjaiswal.com and Shardul Kulkarni of Angel Broking, place their bets on two stocks each, thus offering investors a variety of options to choose from.

June 13, 2012 / 11:59 IST
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On CNBC-TV18's show Super Six, market gurus Parag Doctor, Head - Trading Strategies, Keynote Capital, Manas Jaiwal of manasjaiswal.com and Shardul Kulkarni of Angel Broking, 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 at Keynote Capitals would like to recommend buying Reliance Industries. This stock has made a very good base for the last several weeks between Rs 680 and Rs 720. Now the stock has started moving up and crossed the 50-day moving average. The stock is expected to move to a target price of Rs 770, which is where the 200-day moving average is located. The stop loss for the trade is at Rs 709.
We would like to recommend buying Larsen and Toubro. This stock has been an outperformer in the recent few weeks. The stock has crossed the 200-day moving average and is headed higher to a resistance level of around Rs 1,360 to Rs 1,370 levels. The stop loss for the trade is at Rs 1,270.
 
  Manas Jaiwal of manasjaiswal.com JSW Energy made bullish engulfing pattern on the weekly chart and oscillators are showing positive crossover. These are bullish signs, so we may see a recovery and the stock can test Rs 52 in the next two-three trading sessions. One can buy the stock at current levels with a stop loss of Rs 45.50.
On Friday Polaris broke the resistance of Rs 116 with higher volumes. On the weekly charts it made a bullish pattern. So now it can correct its recent fall and can test Rs 125 in the next 2-3 trading sessions. One can buy it with the stop loss of Rs 115.50
Shardul Kulkarni of Angel Broking S Kumars has given a flat breakout and we think that the stock is poised for a good rally in the near term. We recommend buying the stock in the range of Rs 36 to Rs 35. The stop loss should be placed at Rs 33.5. The target that we expect is around Rs 40.
In Sterlite Industries we are seeing a v-shape breakout and we feel that over the next few trading sessions the stock has the potential to test Rs 109. We recommend buying on declines up to Rs 99; stop loss should be placed at Rs 95. The target is Rs 109 over the next few trading sessions.
first published: Jun 11, 2012 08:59 am

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