Jay Thakkar of Sharekhan recommends buying SAIL with a target of Rs 49 and Dhampur Sugar with a target of Rs 108.
On CNBC-TV18's show Super Six, market gurus Gaurav Bissa, Ashish Kyal and Digesh Shah, 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.
Jay Thakkar of Sharekhan
The first buy recommendation is on SAIL. One can buy SAIL for a target of Rs 49 with a stoploss of Rs 43.50. The stock has given a good breakout from its previous swing high. So one can buy SAIL for Rs 49 and place a stoploss at Rs 43.50.
The second buy recommendation is on Dhampur Sugar Mills. The way the stock has given a good breakout from a downward sloping channel, which clearly looks like a flat pattern. So the stock has given a good breakout from a flat pattern. The stock is trading well above its short-term as well as the medium-term moving averages. Minimum target in the short-term comes to around Rs 108, so one can buy Dhampur Sugar for a target of Rs 108 for that one can place a stoploss at Rs 97.80.
Ashish Kyal of wavesstrategy.com
First call for today on the buy side is Dewan Housing Finance. This stock formed a very important low near the zone of Rs 185-195. It corrected for a period of two months. In the previous session we saw a very strong positive breakout out of this corrective zone. One can create long position on Dewan Housing keeping a stoploss of Rs 202 for the target level of Rs 227.
The second stock for today is going to be on the sell side, it is Dr Reddy's Laboratories. We can now expect this stock to retrace back to the levels of Rs 2,970, which is 61.8 percent retracement of the entire rise. So one can sell this stock on rallies, keeping a stoploss of Rs 3,150 for the target of Rs 2,970 on the downside.
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Digesh Shah of Veracity Fin