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.

Hemant Thukral of SBI Capital Securities First stock for the day is Development Credit Bank. This is a midcap bank which has outperformed all midcap banks till date. What we have seen is that every low levels it has attracted lot of buying. On Friday itself the stock saw an addition of 8% on the long side. The cost of carry has moved up, the delivery volume on cash front has moved up. Stock has seen a lot of consolidation around Rs 58-59 levels. What we expect is that the stock can further surge up to Rs 64-65 in coming weeks. So traders should go long on this stock. The second stock that deserves a mention here is Century Textile. A huge surge of open interest seen in the stock, 18% long positions have been added up. Moreover if you check cash volumes have increased 4 folds; 12 lakh shares have been traded against an average of 3 lakh. The stock has given a fresh breakout above the Rs 336-338 mark which was acting as a big resistance for this. So what we expect is the stock would surge up further next week towards the Rs 375-380 levels where the next stiff resistance is there. So for us one should go long on Century Textile. Hemen Kapadia, Technical Analyst at chartpundit.com The first stock I would like to recommend is Jammu & Kashmir Bank. The stock has been moving sideways for about 20-22 trading sessions. It has also formed a small rounding bottom that