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Super 6 trading stocks for short term gain

Simi Bhaumik of simibhaumik.com is of the view that one may buy Larsen and Toubro with a target of Rs 1240.

March 10, 2016 / 10:21 IST
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On CNBC-TV18's show Super Six, market gurus Simi Bhaumik, Rakesh Bansal 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.Simi Bhaumik of simibhaumik.comI would recommend Larsen and Toubro go long today as this stock has staged a breakout on closing basis. Maintain a long position till such time it holds above Rs 1,200, stoploss should be below Rs 1,197 and targets on the upside would be Rs 1,238 and Rs 1,240.My next stock would be Hero Motocorp. This stock is forming a flag formation on daily chart and I am expecting it to stage a breakout today. Buy as long as it holds above Rs 2,800, maintain a stoploss below Rs 2,795, target on the upside would be Rs 2,838 and Rs 2,855.Rakesh Bansal of RK GlobalMy first call is a buy call on KEI Industries. We have seen a rounding bottom formation of hourly chart, which is technically considered extremely bullish. Buy KEI Industries, stoploss Rs 98 and target Rs 107.50.My second call is a buy call on Mahindra and Mahindra. We have seen a positive crossover on a momentum indicator. We have seen a double bottom formation at around Rs 1,189 levels on the downside. Technically M&M is a strong buying candidate. Buy M&M, stoploss Rs 1,189 and target Rs 1,310.Digesh Shah of Veracity FinOur first trading call is IndusInd Bank, which is a contrarion call. At current juncture we have been witnessing a harmonic trading pattern. One can go short in current level and on a bounce till Rs 941. Keep a stoploss on the closing basis of Rs 960 and one can expect a price target of Rs 900.Our second pick is ONGC. We have observed a double bottom formation on daily chart at Rs 188 levels. In yesterday's trading session, the directional indicator gave a positive crossover while this stock is still positively poised. So one can buy ONGC with a price target of Rs 223, keep stoploss of Rs 198 on a closing basis.

first published: Mar 10, 2016 09:09 am

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