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Super Six stocks you can bet on July 11

On CNBC-TV18's new show Super Six, market gurus Hemen Kapadia of chartpundit.com, Abhijit Paul, Brics Securities and Sundar Raja, Technical Analyst, place their bets on two stocks each, thus offering investors a variety of options to choose from.

July 11, 2011 / 09:31 IST
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On CNBC-TV18's new show Super Six, market gurus Hemen Kapadia of chartpundit.com, Abhijit Paul of Brics Securities and Sundar Raja, Technical Analyst, 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.


Hemen Kapadia, chartpundit.com
One can sell Bhushan Steel at around Rs 456 with a stop loss of Rs 460 and a target of Rs 448. The stock has reflected weakness in the near term at least on the intra day charts there has been negative divergence of the hourly MSCD indicating a further downside.
One can sell Century Textile at around Rs 368 with a stop loss of Rs 372 and a target of Rs 360. The stock has given a high volume downward key reversal on the daily chart indicating a key reversal at hand.
  Abhijit Paul, Brics Securities Cipla has bounced back pretty well from its short term support of Rs 325. The stock will extend further up on the upside of Rs 350-360. One can look to buy in the range of Rs 330 and 332 and use a stop loss at Rs 323.
One can short Dish TV though the fact that this stock is on a strong uptrend across all time frames. I sense that the stock is right for a short term drift down. Look to see Dish TV for downside targets of RS 80-78 and on the upside use a stop loss at RS 91.6.
  Sundar Raja, Technical Analyst Bombay Dyeing has been in continuous uptrend since the last few days with a minor reaction on Friday. One can buy this stock at the support level of RS 362 with a possible target to Rs 369. Allahabad Bank has seen a strong breakout on Thursday and Friday. We have seen a natural pullback technical reaction. Stock is still above the support levels, which indicates that the stock is clearly seeing an uptrend. One can buy the stock at the support of Rs 202 with a stoploss of Rs 199 and a target of Rs 206.
first published: Jul 11, 2011 08:24 am

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