On CNBC-TV18's show Super Six, market gurus Vishal Kshatriya of Edelweiss, Manas Jaiswal, Technical Analyst at manasjaiswal.com and Vikrant Jadeja of Vibrant Trades 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.
Vishal Kshatriya of Edelweiss
My first pick for the day is going short on Indian Oil Corporation (IOC). The stock has given breakdown with good volumes on its daily chart. Derivatives data indicates short build up in a stock. Traders can initiate short at current market price with a target price of Rs 175, maintain stop loss above Rs 200.
My second pick for the day is going long on Sun Pharmaceutical Industries. The stock has given a breakout with good volumes. Derivatives data also indicates long build up in the stock. Technical oscillators are also trading with a positive bias. Traders can initiate long with a target price of Rs 650, maintain stop loss below Rs 580.
Manas Jaiswal, Technical Analyst at manasjaiswal.com
Syndicate Bank is making higher tops and higher bottoms to the daily charts. Yesterday it has broken its resistance of Rs 97 with very good volumes. So, one can buy the stock at current levels with a stop loss of Rs 96. The stock can test Rs 105 in next two-three trading sessions.
Heritage Foods is trading in a band of Rs 200 to Rs 220 for last one month but yesterday it has broken this range upside with good volumes. So we may see further upmove. The stock can test Rs 240 in next three-four trading sessions. One can buy the stock at current levels with a stop loss of Rs 215.
Vikrant Jadeja of Vibrant Trades
Jet Airways was moving in some kind of a narrow trading range of 2 percent since last four-five trading sessions. The stock has made a good base around levels of Rs 270. Looking at current scenario, the stock has tried to manage to move upwards with increment in volumes in last trading sessions, which indicates that as a follow-through, we may expect a rate of Rs 305 for the long positions. One can maintain a stop loss of Rs 285 for the long positions in Jet Airways.
Since last four trading sessions, we have seen a continuous selling pressure in some of the steel largecaps like Tata Steel. Looking at the current scenario, stock is at some kind of major support. We may expect some kind of reversal from current levels. For this move, one can take long positions for the trading purpose with a stop loss of Rs 385 on closing basis. Expect a target of Rs 405 in the next one-two trading sessions.
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