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6 trading stocks for short term gain

Hemen Kapadia of KRChoksey Sec advises buying UPL with a target of Rs 562.

July 08, 2016 / 09:41 IST
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On CNBC-TV18's show Super Six, market gurus Ashish Kyal, Hemen Kapadia and Ruchit Jain, 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.Ashish Kyal of wavesstrategy.com First call for today is going to be a buy on Hindustan Unilever. We can see that the stock has managed to break the strong resistance level of around Rs 910, where it was failing to move higher. Long positions can be created keeping a stop loss of Rs 890 for the target level of Rs 965.Second stock for today is going to be on the sell side is Motherson Sumi Systems. This stock has failed to fill the gap down opening which was seen on June 24, and still it has been struggling to move higher. One can sell Motherson Sumi keeping a stoploss of Rs 290 for the target level of Rs 258.Hemen Kapadia of KRChoksey Sec I have a buy call on Ashok Leyland. It is not in the oversold, it has reflected near-term strength by giving a high volume upward key reversal on the daily chart. The mechanical indicators on the intraday charts have turned positive, have signalled a buy, indicating the stock intention to appreciate further from here. One can buy Ashok Leyland at its closing of around Rs 93, stoploss of Rs 91 and a target of Rs 97.I have a buy call on UPL. It has reflected near-term strength by closing above the 55-day moving average. It has given a high volume upward bar reversal on the daily chart. The mechanical indicators on the intraday charts have turned positive, have signalled a buy indicating the stock intention to appreciate further from here. One can buy UPL at its closing of around Rs 554, stoploss of Rs 550 and a target of Rs 562.Ruchit Jain of Angel BrokingMy first call for the day is a buy call in HDFC Bank. This stock, since the last one month has been consolidating in a sideways range and in yesterday’s trading session, we saw a positive movement coming out of that range. We are expecting a continuation of the upmove and hence one should buy this stock around yesterday’s closing with stoploss below Rs 1,160 for a target of Rs 1,232 in the short-term.My second call is a buy call on Reliance Capital. The stock is on the verge of a breakout of a falling trendline resistance which is placed around Rs 410. Hence one should buy the stock at current levels with a stoploss below Rs 398 for a target of Rs 432 in the near-term.

first published: Jul 8, 2016 08:50 am

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