Super Six short term picks for Feb 7

On CNBC-TV18's 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 is Bajaj Auto. It is a buy call. The stock has reflected strength by posting a fresh 4-week high. It is also continuing with its higher top higher bottom scenario. Mechanical indicators are supporting the move. Stock is quoting above the 55 day exponential moving average. Simply put its looks good from a near term point of view. One can buy at Rs 1640 with a stoploss of Rs 1630 and target of Rs 1660. This is a shorter term call valid from an intraday point of view.

My second pick is Adani Enterprises. It is a buy call. The stock has been consolidating over here for quite sometime. It is looking rather solid. The mechanical indicators are supporting the move, they are in buy mode. It looks like a good near term call. One can buy at Rs 435 with stoploss of Rs 431 and target of Rs 443. This is shorter term call valid from an intraday point of view.

 

Nooresh Merani of AMSEC Research

My first stock call is a buy on Patel Engg with target of Rs 120 and stoploss at Rs 107. The stock has been a favourite over last few weeks ever since it gave a turnaround from Rs 90's. It has been on the buy side and I would expect a short term target of Rs 120 and 150 in the medium term.

My second stock call is a buy on Dish TV with target of Rs 70 and stoploss at Rs 63. If you look at the stock for the last 3-4 weeks it has made multiple bottoms in the range of Rs 56-57. At the same time on rise to Rs 66-68 it sees a lot of resistance. I expect the stock to give this breakout over next few weeks.

 

Arunesh Madan, Founder and Director of Augment Investment Pvt ltd

I have a sell call on Reliance Infrastructure in the region of Rs 550-555. The stock after witnessing a one way rally from a level of Rs 330 is showing tiredness at higher levels. Momentum indicators have reached the overboard zone. There is a negative divergence appearing on the RSI indicator. Look for target of Rs 535 and stoploss of Rs 560 should be placed for this trade.

I have a buy call on Power Grid Corp of India as the stock is witnessing a very strong momentum on the upside. Look to buy in the range of Rs 108-108.50, stoploss below Rs 107 and target of Rs 111.50. This call is valid only for today.