On CNBC-TV18's show Super Six, market gurus Manas Jaiswal of manasjaiswal.com, Shrikant Chouhan of Kotak Securities and Gaurav Ratnaparkhi of Sharekhan share, 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.
Manas Jaiswal of manasjaiswal.com
Voltas has broken the neckline of inverse head and shoulder pattern yesterday with higher volumes, so we may see a upmove and the stock can test Rs 120 in next one or two trading sessions. One can buy the stock at current levels with a stop loss of Rs 112.
Mcleod Russel (India) is making lower tops and lower bottoms on the daily chart. Yesterday it has broken its support of Rs 250 with higher volumes, so we may see further weakness. It can test Rs 240 in next two-three trading sessions. One can go short at current levels with a stop loss of Rs 256.
Shrikant Chouhan of Kotak Securities
I have a buy recommendation on Century Textiles and Industries. The stock has formed multi bottom at Rs 270-275 levels. Currently it is trading very close to its upper range which is at Rs 300-302 levels. While looking at the positions of oscillators and averages, I am of the view that the stock is entering into a quick run-up from current levels. So, from here we can trade long in Century Textile which is at Rs 300 levels and we can keep a stop loss at Rs 290 for the immediate target of Rs 320 and Rs 335 on the higher side.
I have a buy call on JSW Steel. However, while looking at the pattern, we can conclude that the stock is highly oversold. The stock has retraced almost 40 percent of its entire rise from Rs 440 to Rs 1,140. It is an oversold stock and the stock has also formed doji kind of formation at the bottom of its rally, so from here at Rs 850 we can trade long in JSW Steel with a stop at Rs 830 for the target of Rs 885-890.
Gaurav Ratnaparkhi of Sharekhan
I have a buy call on Adani Power. It has given a very channalised correction on the daily chart and since last few sessions it is consolidating near the lower channel line. So it seems that it has created a short-term base for itself and is poised for a bounce till the upper channel line. The daily momentum indicator has also triggered bullish crossover which is adding to the bullish bias, so one can buy the stock with stop loss of Rs 32.50 and target will be Rs 36 and timeframe will be two-three sessions.
I have a buy call on Asian Paints. From the high of Rs 561.75, the stock has given a multi month correction. It has retraced 50 percent of the previous rally and at that crucial Fibonacci level the stock has broken out from an ending diagonal pattern. The daily momentum indicator that has been showing positive divergence has given a fresh buy signal. So, this is a good level to enter into this counter from short-term perspective and from trading perspective the stop loss can be placed at Rs 470 and target will be Rs 515.
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