Super Six trading ideas for August 10

In Super Six, market gurus Arunesh Madan, Abhijit Paul, Brics Securities and Rajesh Jain, 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.

Arunesh Madan, Augment Investment
I have a buy call on Karnataka Bank. It is a mid sized private sector bank. The stock has seen a one way decline from Rs 125 to Rs 95. We would look to buy this stock close to a level of Rs 98-99 with stop loss below Rs 95 on closing basis and I expect level of Rs 115-120 in coming days.
I have a buy call on Bombay Dyeing. It has seen a Rs 100 decline from Rs 385 to Rs 285. We would like to buy this stock in this range with a stop loss being placed below Rs 280 and going forward I expect level of Rs 320 in the coming days.
Abhijit Paul, Brics Securities Ambuja Cement is one stock which I like for the day. The stock is holding pretty well for its support of Rs 120 and it has shown pretty good relative strength this week so far. The stock is likely to extend further up for a test of Rs 145 that is where the short term targets are. Get into the stock with a stoploss close to Rs 124. Buy the breakout once it moves above Rs 130. Asian Paints has been in an uptrend across all time frames and with yesterdays gain it has moved into nascent short term uptrend. But at current prices for an upside target of Rs 3280 and use a stop loss at Rs 3060.
  Rajesh Jain, Independent Market Strategist ABG Shipyard is a good stock which has been holding on in a falling market. It is very near to its support of Rs 380 where it can be bought keeping a stop loss of Rs 370 for much higher targets of Rs 400 plus in coming days. GSPL has been correcting in a sideways market after taking a rally last month. One can buy near Rs 100 and accumulate keeping a stop loss of Rs 96 for higher targets Rs 107 plus in coming days.