Super Six intraday picks for October 23

On CNBC-TV18's show Super Six, market gurus Salil Sharma of KR Choksey Securities, Shrikant Chauhan of Kotak Securities and Gaurav Ratnaparkhi of Sharekhan share, 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.

Salil Sharma, KR Choksey Securities
The first share I would like to recommend is an outperformer of yesterday, Raymond. One should buy at the current levels at Rs 279, keeping a stop loss of Rs 267 and the target for the day would be around Rs 296.
The second recommendation of the day is Tata Steel. One should buy at the current level of Rs 340 keeping a stop loss of Rs 334. The target on this case could be around Rs 353.
Shrikant Chauhan, Kotak Securities
For the day my first bet is on Maruti Suzuki. The stock is at Rs 1,515-1,520 levels. We can trade long at current levels with a stop loss at Rs 1,419 for the target of Rs 1,555-1,560 on the higher side.
My second bet is on Sun Pharmaceutical Industries. Again the recommendation is to buy. On intraday basis, the stock has completed its corrective wave at Rs 620-625 levels and it is just above its important key area of Rs 640-645. So from here, we can easily expect the next levels of Rs 675-680 on the higher side. We can trade long at current levels with a stop loss at Rs 620 on the downside.
Gaurav Ratnaparkhi, Sharekhan
I have a buy call on Jain Irrigation Systems. The stock form a short-term to medium-term bottom in the month of August and since then it is moving up in a channelised manner. It recently found support near the lower channel line as well as near the junction of 40 daily exponential moving average and daily lower Bollinger band. From there, the stock has resumed with the uptrend. In the last session, it has formed a bullish outside bar, which shows that bulls are clearly having an upper hand in this counter. So one can buy this stock with a stop loss of Rs 61.90 for target of Rs 68 and timeframe will be 2-3 sessions. Hindustan Petroleum Corporation (HPCL) had formed a five wave rise on the daily chart and had retraced the same till 50 percent retracement mark. From that crucial Fibonacci level, the stock has started next set of five wave time. An equality target for that comes to Rs 245. So that is the potential this stock has from medium-term perspective. The daily momentum indicator has given a fresh buy signal. So one can take this as an opportunity to enter into fresh long position and stop loss from trading perspective can be placed at Rs 192.40 and target will be Rs 212.