On CNBC-TV18's show Super Six, market gurus Gaurav Ratnaparkhi of Sharekhan, Shrikant Chouhan of Kotak Securities and Pritesh Mehta of IIFL 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.
Gaurav Ratnaparkhi of Sharekhan
I have a buy call on Indian Oil Corporation (IOC). Daily chart of IOC shows that the stock has formed multi month accumulation. It seems to have created a short to medium term base for itself. Recent structure shows that the stock has started a fresh move on the upside and on the way up the stock has crossed its daily moving averages. The daily momentum indicator has given a fresh buy signal. So, one can buy the stock with stop loss of Rs 205 and target will be Rs 220 and timeframe will be two-three sessions.
I have a buy call on Sesa Sterlite. Since last few sessions it is consolidating near its 40 day exponential moving average and daily lower Bollinger band. The two in combination usually act as a strong support and the same is expected this time as well. At the strong support zone, the stock has formed a bullish insight bar in the last session, so this can be a beginning of a fresh move on the upside and risk reward ratio is also favourable to make a fresh entry on the long side, stop loss can be placed at Rs 191.80 and target will be Rs 212 and timeframe will be two-three sessions.
Shrikant Chouhan of Kotak Securities
I have a buy call on Asian Paints. The stock has spent almost 20 days around the levels of Rs 485-490 where the stock is having good support and on Wednesday it closed at Rs 490 plus levels. So, from here I am expecting stock to enter into a short-term pullback mode. I am expecting Rs 520-525 on the higher side for Asian Paints. We can trade long Asian Paints at current levels with a final stop loss at Rs 485.
Bank of India is into symmetrical triangular consolidation and on Wednesday it closed above its upper boundary level of Rs 240-241. So, from here the stock can easily move to the next levels of Rs 255-256 where it has horizontal resistance but above that also the stock can move to the next levels of Rs 265-270. It is the most outperforming stock from the PSU banking space and at Rs 242-243 levels we can trade long into Bank of India with a final stop loss at Rs 237.
Pritesh Mehta of IIFL
I have a buy call on Federal Bank. On the daily chart the stock has been moving in a rising channel pattern since start of November. It suggests the pullback after the recent fall also, the daily relative strength index (RSI) is showing a positive crossover on the daily chart also we can see that the upside projection of the recovery can take the stock back above the levels of Rs 86. So buy Federal Bank with a stop loss of Rs 79 for a target of Rs 86 in three-four trading sessions.
I have a buy on Housing Development Finance Corporation (HDFC). The stock on the daily chart has given upside breakout after consolidating in the rounding bottom formation also in the process the stock has registered a close above its 200 day moving average for three consecutive sessions for the first time in the last one month, breakout is seen also on the daily RSI, it suggests that the upside is going to be a swift from current levels. So, buy HDFC with stop loss of Rs 835 for a target of Rs 870 in next two-three trading sessions.
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