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 Tata Power has given head and shoulder pattern breakdown along with good volumes placed on daily charts. Beside this the stock continues trade below short-term moving averages, which indicates negative momentum in the stock. Momentum oscillators on hourly charts have given a sell signal. I am expecting stock to trade negative bias in days to come and hence recommend going short in the range of Rs 103 to Rs 105 with target price of Rs 98 maintaining stop loss above Rs 108. Bata has given trend line breakout along with good volumes placed on its daily charts, momentum oscillators on daily as well as intraday chart have also given a buy signal beside this open interest data indicates aggressively long build in the stock in previous trading session. Traders can go long in a range of Rs 720 to Rs 730 with first target of Rs 760 and final target of Rs 780 maintaining stop loss below Rs 705.
Rakesh Gandhi, Sr Technical Analyst, LKP Bata has been trading between broad range of Rs 500-730 in last seven months while trading between these ranges it has formed a head and shoulder pattern on weekly charts having a neckline at Rs 730. Though the stock is good buy and hold candidate for a short-term, it can be bought for a target of Rs 775 with a stop loss of Rs 700. Havells has shown a good breakout above Rs 550 levels and again retraced to the Rs 550 level. Now it has once again gathered an upward momentum and could see higher levels and can be bought for a target of Rs 635 with a stop loss of Rs 570.
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Vishal B Malkan, CMT, www.malkansview.com Bata has given a huge volume breakout yesterday with closing around Rs 725. I recommend a buy with a stop loss of Rs 715 for targets of Rs 735 and Rs 743. Crompton Greaves has formed bullish engulfing pattern on daily charts, momentum has turned bullish on hourly charts. I recommend a buy with a stop of Rs 138.5 for targets of Rs 144.5 and Rs 147.
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