Super Six: Hemen, Nooresh, Arunesh on their top picks

On CNBC-TV18's new show Super Six, market gurus Hemen Kapadia of chartpundit.com, Nooresh Merani of AMSEC Research and Arunesh Madan, Founder and Director of Augment Investment Pvt ltd, 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.

Hemen Kapadia, chartpundit.com

My first pick for today is Larsen and Toubro. It is a sell call. It has reflected significant amount of negative divergence on a couple of mechanical indicators on daily charts. One can sell L&T at Rs 1355 with a stoploss of Rs 1362 and target of Rs 1341. This is a shorter term call valid from an intraday point of view.

My second pick for today is Colgate. It is a buy call. Stock has reflected strength by posting a fresh 40-week high. Most of the daily mechanical indicators are in buy mode and are supporting the move. The script has sustained above the 55 DMA indicating its inclination to appreciate further from here. One can buy at Rs 1020 with a stoploss of Rs 1013 and target of Rs 1034. This is a shorter term call valid from an intraday point of view.

 

Nooresh Merani of AMSEC Research

My first stock call is a sell on L&T with a target of Rs 1300-1320 with a stoploss of Rs 1390. The stock has run up a lot from Rs 1000 levels to 1400 in a very short span of time. This indicates that the stock can have a bit of correction. Yesterday stock has given weakening signals, so we would expect some correction over next 2 sessions.

My second stock call is a buy on KPIT Cummins with target of Rs 171 and stoploss at Rs 158. Yesterday the stock has moved up with good volumes as well as it has broken out of its resistance of Rs 160. So would expect this momentum to continue for a couple of sessions more. So, one can take a trade with a 2-days view.

 

Arunesh Madan, Founder and Director of Augment Investment Pvt ltd

I have a sell call in L&T in the range of Rs 1360-1365 as the stock has formed an engulfing pattern on the daily candlestick charts. This coupled with negative divergence on the RSI indicators shows that short term peaks have been made. Shorts can be added below a level of Rs 1340, stoploss above Rs 1400 and target of 1280 is expected.

I have a sell call in Yes Bank in the range of Rs 340-342, stoploss above Rs 345. The stock has made a bearish pattern on the daily candlestick charts. Short positions can be added below the Rs 330 levels for a target of Rs 320 in coming days.