Super Six: Top chart picks for October 11

On CNBC-TV18's show Super Six, market gurus Shardul Kulkarni of Angel Broking, Vishal Kshatriya of Edelweiss and Rajesh Jain of 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.

Manas Jaiswal of manasjaiswal.com Jain Irrigation was facing resistance near to Rs 72 for last 4-5 trading sessions. Yesterday it broke the support of Rs 69 with higher volumes. So now we may see further weakness. Stock can test Rs 65. One can go short at current levels with a stop loss of Rs 70. Jaiprakash Associates bounced back sharply yesterday and made a bullish engulfing pattern on daily chart. So we may see further recovery and stock can test its recent high of Rs 92.50. One can buy the stock at current levels with a stop loss of Rs 85.
  Vishal Kshatriya of Edelweiss Adani Enterprise has given trend line breakdown with good volumes on its daily charts. Oscillators have also given a fresh sell signal. Derivatives data indicates aggressive short buildup in the stock. I will recommend traders to go short at current market price (CMP) with a first target of Rs 205 and final target of Rs 200 maintaining stop loss of Rs 220. Tata Global Beverage has formed triangle pattern on its hourly chart. The breakout level for this pattern is placed at Rs 157. Traders should initiate long above Rs 157 with a first target of Rs 170 and a final target of Rs 175 maintaining stop loss at Rs 150.
Rajesh Jain of Religare Securities IRB Infra has not been able to sustain at higher levels and has also closed below its psychological support of Rs 150 indicating weakness in the near term. One may short sell the stock at any bounce near Rs 150 keeping a closing stop loss of Rs 151 and target of Rs 140 to be achieved in the coming days. Max India has been outperforming the market for quite some time now. After retracing 10 percent from its recent high of Rs 243 the stock has tested its support around Rs 215 and has bounced back. Investors can buy the stock at current market price keeping a closing stop loss of Rs 218 for a target of around Rs 240 to be achieved in the coming days.