Super Six intraday picks for May 24

On CNBC-TV18's show Super Six, market gurus Vishal Kshatriya of Edelweiss Securities, Shardul Kulkarni, Angel Broking and Sanjeev Agarwal of Dynamix Research & Capital, 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.

Vishal Kshatriya, Edelweiss Securities Go short on Jaiprakash Associates at Rs 62-63 with a stoploss above Rs 65 for target of Rs 59
Yesterday the stock has broken down its key support level along with good volumes placed on its daily charts. Momentum oscillators after generating sell signal are showing more signs of weakness. Open interest data indicates short build up in a stock. I would recommend traders to go short on bounce still Rs 62-63 levels with target price of Rs 59, maintain stoploss above Rs 65. Go long on IDFC at current market price with a stoploss at Rs 116 for target of Rs 128
Stock has breached and closed above its resistance of 20 day moving average (DMA). Momentum oscillators on daily charts have given a buy signal, besides this the stock was outperforming the broader markets in previous trading sessions. All these parameters clearly suggests that overall momentum in a stock is positive and hence I recommend going long at current market price with target price of Rs 128, maintain stop loss at Rs 116. Shardul Kulkarni, Angel Broking Sell Jaiprakash Associates below Rs 59.20 with a stoploss at Rs 62 for target of Rs 54
The stock is moving in a horizontal range with Rs 59.2 the lower side as support and on the higher side Rs 64 as a resistance. Thus we recommend selling below the levels of Rs 59.2 with a stop loss of Rs 62 and a target price of Rs 54 in the next four-five trading sessions. Sell Kotak Mahindra Bank at current market price at Rs 525 for target of Rs 500
The stock fell sharply in yesterday’s trading session and we feel that the stock is likely to head even further lower. Thus we recommend selling Kotak Mahindra Bank at the current price with a stop loss of Rs 525 and a target price of Rs 500 in the next four-six trading sessions. Sanjeev Agarwal, Dynamix Research & Capital Buy Ranbaxy Labs above Rs 506 with targets of Rs 515-530
After hitting Rs 530, this stock has been correcting and recently touched Rs 470. Now it is looking like that it is ready to resume its uptrend. We can buy it above Rs 506 for a target of Rs 515 to Rs 530. Buy Yes Bank above Rs 326 with a stoploss below Rs 314 for targets of Rs 340-345
This bank has been showing very strong move upwards and we can buy it above Rs 326 for a target of Rs 340-345 with a stoploss below Rs 314.