Super Six: Top chart picks for Feb 21

On CNBC-TV18's show Super Six, market gurus Hemen Kapadia, CEO, chartpundit.com, Nooresh Merani, AVP Technical, 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, CEO, chartpundit.com

My first pick for today is ITC, it is a buy call. The stock has reflected strength by posting a fresh seven trading session high, it has also taken support on the 55 day exponential average. One can buy ITC at around Rs 205 with a stoploss of Rs 202 and a target of Rs 211. This is a shorter term call valid more from an intraday point of view.

My second pick for today is LIC Housing Finance, it is a sell call. Stock has reflected weakness by the MSCD giving a sell on the daily charts after almost 2 months. One can sell it at Rs 270 with a stoploss of Rs 273 and target of Rs 264. This is a shorter term call valid more from an intraday point of view.

 

Nooresh Merani, AVP Technical, AMSEC Research

My first stock call is a buy on Torrent Power with a target price of Rs 270 & a stoploss to be placed at Rs 218. The stock has given a huge breakout in the last couple of sessions. If you look at the stock it was in a downward channel for almost one year. Recently it has given a breakout above Rs 225 and for last 2 days we are seeing a lot of volumes as well as price movement.

My second stock call is a buy on Godrej Ind. The stock has been a favourite whenever it comes down to Rs 180-190 levels. If you look at the stock the range for the stock was around Rs 180-170 on the downside & Rs 215-217 on the upside. I would expect the stock to do a short term spot to Rs 235 which would be my target price & stoploss to be placed at Rs 205 for this trade.

 

Arunesh Madan, Founder and Director of Augment Investment Pvt ltd

I have a buy call in HDFC Bank in the range of Rs 524-528. As long as the stock manages to close above the Rs 520 level we expect it to trade in the region of Rs 550-575 going forward. Keep a stoploss below Rs 520 & look for a target of Rs 550-575.

I have a sell call in Infosys in the region of Rs 2970-3000. The stock is now trading towards the upper band of its trading range of Rs 2560-3025. Look to short the stock in the region of Rs 2970-3000, a stop loss above Rs 3025 on a closing basis & look for a target of Rs 2860 in the coming days.