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Last Updated : Jul 05, 2016 10:34 AM IST | Source: CNBC-TV18

6 trading stocks for short term gain

Ruchit Jain of Angel Broking is of the view that one may buy Jet Airways with a target of Rs 604.

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

I have a buy call on Godrej Consumer Products. It has been taking strong support near the important moving average of 20 days. So this looks like forming higher high and higher low pattern which indicates that short to medium-term trend is on the upside. So one can trade long positions on Godrej Consumer, keeping a stoploss of Rs 1580 for the target level of Rs 1730.

I have a buy call on VIP Industries. Over past few days we can see a lot of action happening in the midcap and the smallcap space and this stock is outperforming within same space. So one can create long positions in VIP, keep a stoploss of Rs 115 for the target level of Rs 133.

Hemen Kapadia of KRChoksey Sec

I have a sell call on ACC. Not only is it overbought, it has reflected near term weakness by posting lower top-lower bottom on the intraday charts. The mechanical indicators on the intraday charts have turned negative; have signalled a sell, indicating the stock intention to depreciate further from here. One can sell ACC at its closing of around Rs 1,604 with a stoploss of Rs 1,614 and a target of Rs 1,584.

I have a buy call on Ajanta Pharma. The stock has given upward bar reversal on daily charts on higher volume. The mechanical indicators on daily as well as intraday charts have turned positive; have signalled a buy indicating the stock intention to appreciate further from here. One can buy Ajanta Pharma at closing of around Rs 1,559 with a stoploss of Rs 1,549 and a target of Rs 1,579.

Ruchit Jain of Angel Broking

I have a buy call on Jet Airways. The relative strength index (RSI) indicator has given a positive crossover from its oversold zone. Hence we are expecting an upmove in the stock in near term. One should buy this stock around yesterday's closing between Rs 565 and Rs 570 with a stoploss below Rs 546 for target of Rs 604 in short-term.

I have a buy call on Reliance Infrastructure. Looking at the parabolic stop and reverse (SAR) which has given a buy signal and the RSI smoothen oscillator, which has given positive crossover, we are expecting a breakout of the resistance and the stock could move up to Rs 588 in short-term. Hence one should buy the stock near yesterday's closing with a stoploss below Rs 538 and target of Rs 588.

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First Published on Jul 5, 2016 08:55 am
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