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Super 6 stocks that can give handsome returns on May 27

Jay Thakkar of Sharekhan is of the view that one can buy Glenmark Pharma with a target of Rs 902 and PNB with a target of Rs 78.50.

May 27, 2016 / 11:02 IST
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On CNBC-TV18's show Super Six, market gurus Sameet Chavan, Digesh Shah and Jay Thakkar, 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.Sameet Chavan of Angel BrokingWe have a buy call on Federal Bank for target of Rs 56.50 and stop loss can be placed at Rs 50.50. After a long consolidation this stock has now managed to give a breakout from its multiple resistance zone of Rs 51 on closing basis. The volume activity has picked up substantially and during this session we have an immediate target of Rs 56.50 and it can be bought by keeping strict stop loss at Rs 50.50.My other buy call would be on Siemens for a target of Rs 1,250 and stop loss can be placed at Rs 1,145. Yesterday we saw good traction in this counter from lower levels of Rs 1,115 with rise in volumes. The daily charts certainly looks good and the stock is now poised for a breakout beyond Rs 1,200. We have an immediate target of Rs 1,250 and it can be bought on any dip by keeping a strict stop loss at Rs 1,145. Digesh Shah of Veracity FinOur first trading idea is Motherson Sumi, from important support of 89 - the exponential moving average, the stock gave a good bounce. It will continue to trade higher and higher continuing with its primary trend which is up. Directional indicator too showing the stock is in uptrend. So, one can buy Motherson Sumi with a price target of Rs 286 and maintain a stop loss below Rs 268.Our second trading idea would be buy on a BHEL. The stock gave a good bounce from lower levels, if intraday chart is analysed, we observe that the stock gave a trendline breakout if it is adjoin by 2 important swing high - Rs 135 and Rs 130. We foresee the stock moving higher till levels of Rs 138. So, one can buy BHEL with a price target of Rs 138 and maintain a stop loss below Rs 124. Jay Thakkar of  SharekhanThe way the Glenmark Pharma has formed a good symmetrical triangle pattern on a daily charts and on the hourly charts, what I see is it has completed the view E that is a final leg of this consolidation in the short-term. I think the probablity is quite high for a breakout on the upside because the momentum indicators are well into the buy mode. One can buy Glenmark for target of Rs 902 and for that one can place a stop loss at Rs 850.Second buy recommendation is on Punjab National Bank (PNB), this stock has formed a good impulse move on the hourly charts and its has also computed a zigzag corrective pattern on the hourly charts. It has started to form higher tops and higher bottom. I think the way the momentum indicators have again reversed from the sell to buy, the minimum target on the upside comes to Rs 78.50. Hence one can buy PNB for a target of Rs 78.50 and for that one can place a stop loss at Rs 73.50.

first published: May 27, 2016 09:24 am

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