Super Six short term picks for August 24

On CNBC-TV18's show Super Six, market gurus Manas Jaiswal, Technical Analyst, manasjaiswal.com, Sanjeev Agarwal, CEO, Dynamix Research and Rajesh Jain of Religare Sec, 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.

Manas Jaiswal, Technical Analyst, manasjaiswal.com

Yesterday Cairn India broke an important resistance of Rs 341 with higher volumes and it started trading above the 200 day moving average. Now we may see a sharp upmove and the stock can test Rs 355 in the next 1-2 trading sessions. One can buy this stock at current levels with a stop loss of Rs 339.

After taking support near to the 200 DMA, Voltas bounced back sharply and yesterday it broke the resistance of Rs 115 with higher volumes. Now the stock can cross its July high of Rs 117 and test Rs 121 in the next 2-3 trading sessions. One can buy the stock at current levels with a stop loss of Rs 112.

 

Sanjeev Agarwal, CEO, Dynamix Research

Cairn India has given a very good breakout above Rs 342 and we can buy it around Rs 342 with a stop loss below 335 for a target of around Rs 348-354.

We can sell Praj Industries at current market price with a stop loss above Rs 52 for a target of Rs 46-47.

Rajesh Jain, Religare Sec

Polaris Financial Technology went up yesterday after a two day sideways consolidation. One can buy this stock at current price keeping a stop loss of Rs 122 for a target of Rs 130.

Sintex Industries closed yesterday at a 7 day low. One can short the stock at any counter rally near Rs 59.50 keeping a stop loss of Rs 60.50 for a target of Rs 58.