Super Six: Top chart picks for March 23

On CNBC-TV18's show Super Six, market gurus Vishal Kshatriya, Sr Derivative and Technical Analyst, Edelweiss, Rakesh Gandhi, Sr Technical Analyst, LKP and Vishal B Malkan, CMT, www.malkansview.com, 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, Sr Derivative and Technical Analyst, Edelweiss
My first pick for the day is going short on Bharti Airtel. Yesterday stock has formed bearish candlestick pattern on its daily chart. Besides this stock continue to trade below its short-term moving averages, which indicates negative momentum in the counter. Momentum oscillators on daily chart continue to trade with the negative bias. I would recommend traders to go short in a range of Rs 325-330 with target price of Rs 310. Maintain stop loss above Rs 338.
My second pick for the day is going short on Aban Offshore. Yesterday stock has given trend line breakdown along with good volumes placed on its daily chart. Besides this stock continue to trade below short-term moving averages. Oscillators on daily chart have given fresh sell signal. Intraday traders can go short in a range of Rs 435-440 with intraday target of Rs 415 maintaining stop loss at Rs 455.
  Rakesh Gandhi, Sr Technical Analyst, LKP
My first pick for the day is IVRCL. The stock has been consolidating in a trading range since last six weeks and has not seen any breakout on the either side. Oscillators are also pointing towards an eventual breakout on the upside and hence can be bought for a target of Rs 65 with a stop loss of Rs 52.
My second pick for the day is TTK Prestige. The stock has seen a very sharp rally from a falling channel pattern and has now given away majority of its gains and now it is trading near its short-term support levels. Hence it can be bought for a target of Rs 3,225 with a stop loss of Rs 2,900.
  Vishal B Malkan, CMT, www.malkansview.com
My first pick is Maruti. It has broken 20 day moving average. Hourly chart momentum is bearish. I recommend a sell with a stop of Rs 1,345 for targets of Rs 1,310 and Rs 1,300.
My second pick is Wipro. It has formed a bearish pattern on daily charts. Hourly momentum is bearish, also tagging on the lower volumes. I recommend a sell with a stop of Rs 427 for targets of Rs 414 and Rs 407.