On CNBC-TV18's show Super Six, market gurus Vishal B Malkan, Hemen Kapadia and Manav Chopra 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 B Malkan of malkansview.com
DLF has formed a bearish pattern with a strong resistance of Rs 145 with good volumes, momentum is also at resistance hence I recommend a sell with a stoploss of Rs 145 on targets of Rs 130 and Rs 127.
After a strong rally in the last month YES Bank has started forming lower top and lower bottom on intraday charts. There is a strong momentum on the downside, price is tagging on the lower bollinger band hence I recommend a sell with a stoploss of Rs 700 for targets of Rs 660 and Rs 645.
Manav Chopra of Nirmal Bang
In Allahabad Bank futures the prices have breached its rising trend line drawn from its recent highs which has confirmed a short-term trend reversal signal. The prices have also managed to break below its important support level which indicates a negative bias. We recommend a sell at the current levels and maintain a stoploss at Rs 117. We expect a lower side target of Rs 106.
Sesa Sterlite after a sharp decline has formed a strong support around levels of Rs 230 and the prices on intraday chart has formed a strong reversal pattern and has bounced from its oversold zone. The volume also indicates a short-term rise as the prices have formed a good support around the levels of Rs 230. We recommend a buy with a stoploss of Rs 228 and expect an upside target of Rs 255.
Hemen Kapadia of KR Choksey Securities
Mahindra and Mahindra (M&M) has reflected near term strength by giving a high volume recovery. The stock has given an upward breakout on the intraday charts. Mechanical indicators are supporting the move, have signalled a buy indicating the stocks intention to appreciate further from here. One can buy M&M at its closing of around Rs 1256 with a stoploss of Rs 1246 and a target of Rs 1276.
Biocon has reflected near term strength by giving an upwards buy reversal on the daily chart that too on high volume. The mechanical indicators are supporting the move, the stock has entered an intraday uptrend indicating its intention to appreciate further from here. One can buy Biocon at its closing of around Rs 463 with a stoploss of Rs 459 and target of Rs 471.
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