Super Six trading ideas for the day

On CNBC-TV18's new show Super Six, market gurus Shardul Kulkarni, Sr Technical Analyst of Angel Broking, Rajesh Jain, EVP Retail Research, Religare Sec 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.

Shardul Kulkarni, Sr Technical Analyst of Angel Broking

IDFC is a counter which is in a very strong structural downtrend thus we would recommend selling positions in IDFC. One can sell with a stoploss of Rs 118.5 for a target of Rs 105 in the next 5-6 trading sessions.

Reliance Infra has given a good strong bounce back from the lows to the levels of Rs 490 where it faces immense resistance, thus considering the reversal pattern on Friday one can actually sell below the level of Rs 460 for a target of Rs 440 with a stop loss of Rs 475.

 

Rajesh Jain, EVP Retail Research, Religare Sec

Exide Industries underperformed in last 10 days when Nifty was taking a counter rally and on Friday the stock fell sharply with high volume. One can short it near Rs 140 levels keeping a stoploss of Rs 145 for target of Rs 131.

Berger Paints went up sharply on Friday when markets were falling; a closing above Rs 110-112 can take the stock sharply higher. One can buy the stock near Rs 104 keeping a stoploss of Rs 100 for higher targets of Rs 120 plus in coming days.

 

Vishal Kshatriya, Sr Derivative and Technical Analyst of Edelweiss

I have a short call on Voltas. The stock has generated head & shoulder pattern breakdown on hourly chart along with good volumes. Besides this on Friday stock has breached & closed below its 20 DMA. Open interest data indicate aggressive short built up in the counter. Go short in a range of Rs 121-123 with target price of Rs 117 maintain stop loss above Rs 126.

I have a short call on Jaiprakash Associates. The stock has generated rising trendline breakdown on its hourly chart that too along with good volumes. Besides this short term oscillators too have generated a bearish crossover. I am expecting stock to trade with a negative bias in the days to come. Go short in a range of Rs 66.5-67.5 with target price of Rs 62 and maintain stoploss above Rs 70.