On CNBC-TV18's show Super Six, market gurus Vishal Malkan, CMT, Arunesh Madan of Augment Investment 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 Malkan, CMT My first pick is Sterlite Industries. It has formed a bullish candlestick pattern on daily charts. Hourly momentum is bullish. I recommend a buy with a stoploss of Rs 99 for targets of Rs 105 and Rs 107. My second pick is Sesa Goa. After a few days of consolidation it has given a good move yesterday, huge volumes on daily charts as well as hourly charts. I recommend a buy with a stoploss of Rs 173 for targets of Rs 182 and Rs 185. Arunesh Madan, Augment Investment Zee Entertainment Enterprises has formed an engulfing bearish pattern on the daily candlestick charts in yesterday’s trade coupled with a negative divergence on the RSI indicator. Look to short this stock in the range of Rs 195-197. Keep a stop loss above the Rs 201 on a closing basis and look for a target of Rs 192 and Rs 186 in the coming days. Reliance Power has closed above a very significant resistance of Rs 100 in yesterday’s trade. Look to buy this stock in the range of Rs 100.50-101.50. Keep a stop loss below the Rs 98 levels on a closing basis and look for a target of Rs 108-110 in the coming days. Sanjeev Agarwal, Dynamix Research & Capital My first stock for today is ICICI Bank. After giving a sharp up move it has been consolidating in a range and it seems that consolidation is over now. We can buy it at current market price for a target of Rs 1,080-1,100 and we can keep a stop loss below Rs 1,025. My second stock for today is IVRCL. After giving a strong up move it had consolidated in a flaggish pattern and yesterday it had given a very good breakout above Rs 50. We can buy it at current market price for a target of Rs 55 and we can keep a stop loss below Rs 48.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
