Super Six: Top chart picks for the day

On CNBC-TV18's new show Super Six, market gurus Parag Doctor of Motilal Oswal Securities, Hemen Kapadia of chartpundit.com and Shrikant Chauhan of Kotak 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.

Parag Doctor, Motilal Oswal Securities

We would like to recommend Tulip Telecom for a buy side trade and this stock has closed around Rs 154 levels and the stop loss for the trade would be around Rs 145 levels. The stock has been accumulating around Rs 140 for the last few months. The upside target would be around Rs 165 levels, which is a 200 day average.

The second stock we would like to recommend is Eicher Motors. This stock has corrected sharply from the Rs 1400 levels to around 1200 levels, which is support from the long term 200 day average. The stop loss for the trade on the buy side would be around Rs 1150 and the target would be at Rs 1400 levels.

Hemen Kapadia, chartpundit.com

The first stock that I would like to recommend is a sell. I would like to recommend a sell on HCL Tech. The stock is almost in the last session of exhausting its 3 trading session bounce back. One can sell HCL Tech at around Rs 475 with a stop loss of Rs 490 and a target of Rs 445

I would like to recommend a buy on Escorts. Escorts has given an upward key reversal on the daily charts today that too on a higher volume. One can buy Escorts at around Rs 103 with a stop loss of Rs 101 and a target of Rs 107. This is a slightly shorter term call; the validity would be 3-4 trading sessions.

Shrikant Chauhan, Kotak Securities

Technically we are bullish on Biocon because the stock is forming bullish consolidation on weekly as well as daily charts. Currently it is trading at Rs 345. So we can trade long at current levels, more on declines, final stop loss at Rs 325 for the targets of Rs 370 and Rs 385 on the high side.

MRPL is showing lot of negative divergence on daily charts and currently it is into short term pull back but this particular pull back we can use as to trade short. We have to keep a stop loss at Rs 81. Currently it is trading at Rs 75 and on the lower side we can keep a target of Rs 66 and Rs 61.