On CNBC-TV18's show Super Six, market gurus Gaurav Ratnaparkhi, Manas Jaiswal and Aditya Agarwal 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.
Gaurav Ratnaparkhi of Sharekhan
I have a buy call on Arvind. The short-term corrections have been finding support near its 20-week simple moving average. Similarly, the recent correction has taken support near 20-weeks simple moving average and from there, the stock has started moving up. In the last session, it has crossed its crucial daily moving averages and has formed a bullish outside bar there, so the stock seems to have resumed with a larger uptrend. From trading perspective, stoploss can be placed at Rs 288 and target will be Rs 315.
Sesa Sterlite has been correcting since last few weeks. However, the correction has halted near multiple supports from where the stock has started moving up. Recently, it has broken out on the upside from a bullish inside bar on the daily chart. The daily momentum indicator has given a fresh buy signal. So the stock has recent upside potential from current level. From trading perspective stoploss can be placed at Rs 231 and target will be Rs 250.
Manas Jaiswal of manasjaiswal.com
Shipping Corporation of India (SCI) has given a triangular breakout on the daily chart. Now it has some resistance near Rs 70 but looking at the pattern, I think it can break that resistance also and it can test Rs 75 in next two-three trading sessions, so one can buy it with a stoploss of Rs 65.
Indian Overseas Bank has started making higher tops and higher bottoms on the daily chart. It has broken its resistance of Rs 60; it has breached its 200 day moving average also, so I think the stock can test Rs 66 in the next two-three trading sessions. So, one can buy it with a stoploss of Rs 60.
Aditya Agarwal of Way2Wealth Securities
I have a buy call on Indian Overseas Bank (IOB). For last couple of weeks the stock was trading in a narrow band of Rs 52 and Rs 62. In yesterday's session, the stock gave a breakout above Rs 62 and it managed to close above there. With this, we have also seen some long position getting built up in future. We are expecting that from these levels stock may see a good spurt and on the higher side this stock may see Rs 67 levels in next three-four trading sessions. So at current levels one may go long in IOB keeping a target of Rs 67. On a lower side, stoploss will be Rs 60.
In Jubilant Foodworks from higher levels some selling pressure is seen from the last two trading sessions. In yesterday's session the stock saw some sharp correction and it added short positions on open interest (OI). We are expecting the selling pressure to continue, Rs 1,390 is the immediate support level. If the stock breaks Rs 1,390 then we are recommending a short call, in that case, target will be Rs 1,330 and on higher side stoploss will be Rs 1,420.
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