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6 trading stocks for short term gain

Sameet Chavan of Angel Broking is of the view that one may buy Maruti Suzuki with a target of Rs 4420.

July 12, 2016 / 11:33 IST
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On CNBC-TV18's show Super Six, market gurus Sameet Chavan, Jay Thakkar and Kunal Saraogi, 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.Sameet Chavan of Angel BrokingWe have a first buy call on Maruti Suzuki for a target of Rs 4,420 and stoploss Rs 4,188. Yesterday this stock gave a clear breakout from a near term congestion zone. On a closing basis after breaking the important hurdle of Rs 4,200-4,220. In addition, this stock has also entered a new time zone as per the Fibonacci time series thus we have a positive view for a target of Rs 4,420.Our other buy call would be on Reliance Capital for a target of Rs 436 and stoploss Rs 396. Yesterday it gave a breakout from a downwards sloping trend line from a resistances of Rs 410-412 on a closing basis. Looking at the overall daily as well as weekly charts structure we expect this momentum to extend. Immediate target would be Rs 436 and fix a stoploss at Rs 396.Jay Thakkar of SharekhanBuy Hexaware Technologies for target of Rs 233 with a stop loss of Rs 219. The stock seems to have formed good triangular pattern on a daily charts and which is quite visible on the hourly charts as well. This triangular pattern has been formed in its wave and I am expecting another wave on the upside. The final leg of this triangular consolidation is over, so the risk reward is quite in favour of the bulls with a stoploss of Rs 219 one can buy for a target of Rs 233.The second buy recommendation is on Indian Overseas Bank (IOB). This stock has been forming a good higher tops and higher bottom on the daily charts with a good buy crossovers and its momentum indicator on daily as well as hourly charts. This stock has also given a breakout from a downtrend line resistances which clearly indicates that the stock is likely to inch towards its previous swing resistance that is Rs 31.50. So, you can buy IOB for a target of Rs 31.50 with a stoploss of Rs 27.40.Kunal Saraogi of EquityrushMy first stock call of the day will be buy on Shriram Transport Finance which has been outperforming the Index. We have seen big traction in the NBFC stocks. I think Shriram Transport Finance can be bought with a target of Rs 1,310. One should put a stoploss at Rs 1,245 and go long. My second pick will be Syndicate Bank. The stock has broken out fresh on the charts. It has been outperforming the Index for the last few days. Syndicate Bank can be bought with a target of Rs 83 and with a stoploss of Rs 79.50.

first published: Jul 12, 2016 08:48 am

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