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Super Six chart picks for today

Gaurav Ratnaparkhi of Sharekhan is of the view that one may buy Larsen and Toubro (L&T) with a target of Rs 1435.

November 17, 2015 / 10:01 IST
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On CNBC-TV18's show Super Six, market gurus Rajat Bose, Gaurav Ratnaparkhi and Gaurav Bissa, 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.Rajat Bose of rajatkbose.comMy first stock is Apollo Hospital. Buy it, stop loss below Rs 1,265, target is Rs 1,293 and Rs 1,304. This stock has given a probable short-term bottom reversal formation and it has also shown considerably large volume activity in the last couple of hours, in the last session.My second stock is Bank of Baroda (BoB). This too is a buy. Put your stop below Rs 171.80 and keep your targets at Rs 183 and Rs 187. This stock too showed good strength on both hourly and the daily charts and it has crossed 200 days exponential moving average on both the charts.Gaurav Ratnaparkhi of SharekhanI have a buy call on Larsen and Toubro (L&T). It has fallen significantly in last few weeks. However the pace of decline has decreased in last few sessions the same is evident from the daily momentum indicator as well as it is showing positive divergence and has triggered a fresh buy signal, overall this is a good opportunity to initiate fresh long position from short-term perspective. The stop loss can be placed at Rs 1,326 and target will be Rs 1,435.In last few weeks, Ceat has fallen considerably from its weekly upper Bollinger band towards its crucial weekly moving averages. The moving averages are now acting as a cushion for the counter. The stock has formed a short-term base near these moving averages. On the hourly charts, it has formed an inverted head and shoulders pattern and has broken out on the upside. So pullback looks around the corner and one can buy the stock with stop loss of Rs 958 and the target will be Rs 1,050.Gaurav Bissa of LKP SecuritiesMy first recommendation today is buy on Glenmark Pharma. This stock after witnessing decent amount of correction which was led by fresh shorts, long unwinding has now seen some amount of short covering. All in all the stock is very cleverly positioned, one can buy this stock for a target price of Rs 1,000, keeping the stop loss at Rs 940.My second recommendation is a buy on Apollo Tyres. The stock has seen good amount of correction from levels of Rs 195-200 to about Rs 155. Fresh shorts were seen getting built however, after small amount of short covering, fresh longs are seen getting built. All in all, it augurs well for the stock, one can buy the stock for target Rs 170 keeping the stop loss at around Rs 152.

first published: Nov 17, 2015 08:55 am

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