Super Six: Top chart picks for Tuesday

On Super Six, a CNBC-TV18 show, market gurus Vishal Kshatriya, Sr Derivative and Technical Analyst of Edelweiss, Rakesh Gandhi, Sr Technical Analyst of LKP and Nooresh Mirani, Head, AMSEC-Analyse India place their bets on two stocks each that can potentially make money. Investors can read into the detailed analysis before agreeing to any or all the bets.

Vishal Kshatriya, Sr Derivative and Technical Analyst of Edelweiss
Short Canara Bank. The stock has breached and closed below its key support of 20 DMA along with good volumes. Momentum oscillators on daily chart have also given a sell signal. Open Interest data indicates aggressive short built up in the counter, traders can go short at current market price with target price of Rs 410 and maintain stoploss above Rs 432.
Short DLF. The stock has reverted multiple times from its key resistance zone of 200 DMA, which indicates supply at high levels. Yesterday momentum oscillators on daily chart have given first sign of negative divergence; this indicates the stock likely to trade with a negative bias in days to come. Traders can go short at current market price with target price of Rs 220 maintain stoploss above Rs 232.
  Rakesh Gandhi, Sr Technical Analyst of LKP Union Bank has broken the neckline of bearish triangle formation with very heavy volumes and has also closed below that and it has also started making new low for the year 2011. Traders can short for the target of Rs 190 with a stoploss of Rs 218. Gitanjali Gems was drifting in a sideways move since last few weeks and has once again gained an upward momentum. It looks like in short term it could move to higher levels of Rs 385. So traders can buy for the target of Rs 385 with a stoploss of Rs 363.
  Nooresh Mirani, Head, AMSEC-Analyse India
Buy Escorts with a target price of Rs 87 and stoploss placed at Rs 77. The stock has given a good breakout over the last few days and yesterday it has given a positive close .
Buy Grasim with a target price of Rs 2420 and a stoploss placed at Rs 2290. It has been holding well to the support level of Rs 2250-2290. I expect the stock to touch a target of Rs 2420 and head upto Rs 2500 in the medium term.