Super Six: Top chart picks for today

On CNBC-TV18's show Super Six, market gurus Arunesh Madan, Founder and Director of Augment Investment Pvt ltd, Nooresh Mirani - AVP Technical, AMSEC Research and Rajesh Jain, EVP Retail Research, Religare Securities, 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.

Arunesh Madan, Founder and Director of Augment Investment Pvt ltd
I have a buy call on HPCL. The stock after taking support in the region of Rs 240-245 has rebounded strongly to close above Rs 250 in the last couple of trading sessions. There is a positive divergence on the RSI indicator as well as the MACD has given a buy signal. Look the buy in the region of Rs 251-254 with a stoploss below Rs 250 on closing basis and look for a target of Rs 265-268.
I have a sell on Polaris. The stock has formed an evening star pattern on the daily candlestick charts. Look to short the stocks in the region of Rs 135-137, a stop loss placed above the Rs 140 levels on closing basis and look for a target of RS 122-125 in coming days.
  Nooresh Mirani - AVP Technical, AMSEC Research
My first stock call is a buy on Patel Engg with a target price of RS 105 and a stop loss placed at Rs 92. The stock has given a breakout from a falling channel, as well as if we look in daily charts it has started trading above its 50 day moving average. It has a mild resistance around Rs 105 which if it crosses than it could head upto Rs 120 also. Given the momentum in infra stocks, the stock has not performed as such. So I would expect the stock to see lot of momentum in the near term.
My second stock call is a buy on ITC. The stock has given a breakout and it has a resistance around Rs 205 which was broken yesterday. I would expect the stock to reach Rs 212 in the short term, traders may keep a strict stop loss at Rs 204 for this trade as well as the stock is a defensive in the current market so it is a low risk medium return kind of a trade.
  Rajesh Jain, EVP Retail Research, Religare Securities ITC has been performing well in a rising as well as falling market. On the daily charts it has broken out of a symmetrical triangle formation. One can buy the stock keeping a stop loss of Rs 201 for higher target of Rs 213. Cairn had been correcting for a week but on Friday the stock closed on high volumes. One can buy the stock keeping a stop loss of Rs 325 for higher target of Rs 345.