Super Six: What's hot on the charts, and what's not

On CNBC-TV18's new show Super Six, market gurus Hemant Thukral of SBI Capital Securities, technical analyst at viratechindia.com Hemen Kapadia and Devangshu Dutta, Consulting Editor of Outlook, 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.

Devangshu Dutta, Consulting Editor of Outlook

Titan Industries has taken a hammering on Tuesday. It could go down further; I think you have a reasonably good short. Keep a stoploss at Rs 4,580 and go short with a target of about Rs 4,480.

Praj Industries has shown a certain amount of bullishness. I think the stock could have a target of Rs 79.80; keep a stoploss at Rs 74 and go long. You could add to the position at Rs 76.50-77 and start booking profits at about Rs 79.

Hemant Thukral of SBI Capital Securities

First stock for the day would be a tea midcap stock, McLeod Russel. This stock has been in a phase of consolidation over the last week. What we have seen today is that along with the long built-up in the derivatives front the stock has seen a huge surge on cash front. Cash volumes were nearly around 7 lakh shares which is much higher than the 5-day average of 3.5 lakh shares. Along with that stock has managed to give a fresh breakout above Rs 272 and immediate short-term target can be Rs 288-289.

Second stock would be MRPL - another midcap counter in oil and gas space (standalone refinery) which has seen huge surge in Open Interest by 11% along with the surge in cash volumes also. The stock again after consolidation for a while has managed to cross above Rs 80 level and close well above it. So in the immediate short-term we are expecting the stock to retest the recent highs of Rs 86-87.

Hemen Kapadia, Technical Analyst, chartpundit.com

The first stock I would like to recommend is Reliance Mediaworks. The stock has given a mini breakout. In fact it has overcome a 15 trading sessions supply line with decent volume today. This has also been supported by mechanical indicators like MACD and stochastic. In terms of target one can buy Reliance Media at Rs 134, with a stoploss of Rs 130 and a target of Rs 142.

The second stock I would like to recommend is Bajaj Hindusthan. The stock is battered down badly and most of the sugar stocks are turning from medium-term point of view, Bajaj Hindusthan is no exception. It is significantly oversold on the weekly charts and you have a hint of positive divergence indicating a rather limited downside. On the daily chart though it is in a trading range, Rs 70 is a level which it could breakout, it hasn