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Last Updated : Oct 06, 2015 11:10 AM IST | Source: Moneycontrol.com

Check out: 6 stocks likely to see lot of action today

Manav Chopra of Networth Stock Broking advises buying Tata Motors with a target of Rs 360.


On CNBC-TV18's show Super Six, market gurus Manav Chopra, Jay Thakkar and Ashish Kyal, 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.

Manav Chopra of Networth Stock Broking

My first buy call is on Tata Motors. The stock after nine months of consecutive decline has formed a strong reversal formation at its oversold zone and the prices have also formed a bullish pattern at its long-term trendline drawn from its 2008 levels. We expect a rally close to the levels of Rs 360 on the upside. At the current zone on the lower side, Rs 305 to Rs 310 would act as an important support and we recommend a buy with a stoploss of Rs 300.

My second call is on Bharat Heavy Electricals (BHEL). The stock has declined sharply from its recent peak and the prices have rebounded from its recent lows as the oscillators formed a positive divergence on the daily charts. At the current levels, the prices have also breached its important 10 day moving average which has confirmed a short-term reversal formation. We expect the stock to move higher as on the weekly perspective, we have observed a good bullish pattern.

Jay Thakkar of ShareKhan

First buy is on Axis Bank. The way the Bank Nifty provided a breakout in yesterday's trading session above the levels of 17,630, I think Axis Bank seems to be forming the same kind of pattern on the daily charts that is a reverse head and shoulders pattern and like Bank Nifty, Axis Bank is also ready to take off on the upside and provide a breakout from a reverse head and shoulders pattern. The target of these breakout on the upside comes to around Rs 538-555 in short-term to medium-term whereas the stoploss for these trades can be placed at Rs 500.50.

Second buy call is on JSW Steel. This stock has formed a good double bottom on the daily charts. The momentum indicator on the daily as well as the hourly chart is in the buy mode. On the hourly charts also this stock has given a breakout from an inverse head and shoulders pattern and it has a target of Rs 945 on the upside so for that target one can buy this stock with a stoploss of Rs 890.

Ashish Kyal of wavesstrategy.com

First stock pick that we have is going to be Apollo Hospital and we can see that this stock is trading near 52-week high. It has been moving way apart from its 20-days moving average (DMA) that shows the strong momentum and there is still a lot of room as per the indicator if you look at relative strength index (RSI). So Apollo Hospital look very promising and one can buy this stock at current market price (CMP) with a very strict stoploss of Rs 1,435 and the target we can expect at around Rs 1,545 levels on upside.

The next stock pick is Shree Cements. We can see a very strong momentum across the infrastructure space and I think this should continue at least over next few days. So Shree Cement looks to be very promising. This stock took a very strong support near 200 days moving average and bounced back from there. It has been exhibiting higher and higher low which is a precursor in order to determine any kind of a trend. So Shree Cement is a buy with a stoploss of Rs 11,900 and target we can expect near Rs 13,650 on upside.

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First Published on Oct 6, 2015 08:52 am
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