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Super Six chart picks for September 15

Meghana V Malkan of malkansview.com advises buying Glenmark Pharma with a target of Rs 1085.

September 15, 2015 / 09:56 IST
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On CNBC-TV18's show Super Six, market gurus Jay Thakkar, Meghana V Malkan and Ashish Kyal, 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 SharekhanI have a buy call on Coal India. The stock has formed a good falling wedge pattern on daily charts. It has taken good support around its previous swing lows of Rs 331-332 levels. It has reversed well from those levels in yesterday's trading session. The momentum indicators are well in buy mode on daily as well as hourly charts with positive divergence and with these technical evidences the stock is poised to inch towards levels of Rs 351 on the upside and for this one can place a stoploss around Rs 331. Hence a good risk reward on the buy side.I have a buy call on Kaveri Seed Company. The stock has given good breakout from down trendline resistance in yesterday's trading session with a good positive close. The previous move was a clear impulse move on the hourly charts following which we have seen three wave corrective patterns, so again a good buy on momentum indicators with a positive divergence on the hourly and daily charts. This stock is poised to inch towards the level of Rs 484 on the upside whereas for this buy trade one can place a stoploss of Rs 447. Good risk reward for the longs.Meghana V Malkan of malkansview.comI have a buy call on Voltas. It has been consolidating at Rs 245-248 levels without having breaking that level which is an important support level for the stock. Therefore, a buy call on Voltas with a stoploss of Rs 250 for a target of Rs 271. I have a buy call on Glenmark Pharma. It formed a bullish candle pattern in yesterday's trading session with good volumes. Momentum intraday chart is emerging into the bullish zone. Therefore, a buy on Glenmark with a stoploss of Rs 1,005 for a target of Rs 1,085. Ashish Kyal of wavesstrategy.comCeat continued to outperform strongly and even during the correction it did not participate much on the downside and as soon as we are seeing an upmove, we are seeing that Ceat has been participating on upside and it should continue to do so. So it is better to stay with the outperforming stock. So buy Ceat with a stoploss of Rs 1,150 and the target can be around Rs 1,275. I have a buy call on Jubilant Industries. The stock has been moving in third wave on the upside, has been touching new 52 week high when the market has been in doldrums, so this is a good stock and outperforming again. One can buy with a stoploss of Rs 295 and the target that can be expected on the upside is around Rs 336.

first published: Sep 15, 2015 08:48 am

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