Super Six trading ideas for the day

On CNBC-TV18's in Super Six show, market gurus Rajesh Jain, EVP Retail Research of Religare Sec, Rakesh Gandhi, Sr Technical Analyst of LKP and Vishal Kshatriya, Sr Derivative and Technical Analyst of Edelweiss, 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.

Rajesh Jain, EVP Retail Research of Religare Sec

A rising dollar gives an edge to the companies like Hexaware, which earn most of their revenue in forex. Overall the stock has outperformed the market and peer group in last 6 months. One can buy between Rs 76-78 with a stoploss of Rs 74 and target of Rs 84.

On a day when banking stocks saw strength, Canara Bank closed at 1 month highest closing. As we approach clearing the stock can see further short covering. One can buy at an dip keeping a stoploss of Rs 435 for a target of Rs 455.

 

Rakesh Gandhi, Sr Technical Analyst of LKP

DLF has seen a good breakout above an ascending track and having a neckline around Rs 211. I recommend to buy for a target of Rs 229 stop loss of Rs 210.

Idea is about to breakout from a continuation pattern and as soon as it breaks it will see a good upward momentum. Once it breaks above Rs 99, it could go to Rs 106. So it could be bought for a target of Rs 106 with a stoploss of Rs 95.

 

Vishal Kshatriya, Sr Derivative and Technical Analyst of Edelweiss

I have a buy call on Biocon. Stock has generated trendline breakout along with good volumes placed on its daily charts. Besides this, stock has breached and closed above it 20 DMA, indicating positive momentum in the counter. Directional indicator ADS has given a buy signal. Trader can go long with target of Rs 350 and stoploss of Rs 335.

Go long on HUL. After forming bullish pattern on Monday, stock bounced back sharply along with good volumes in previous trading sessions. This stock could act a good defensive bet in a volatile market conditions, which we have been witnessing since last couple of days. Traders can go long between Rs 338-340 for a target of Rs 352 with a stoploss below Rs 330.