On CNBC-TV18's show Super Six, market gurus Meghana Malkan, Hemen Kapadia and Kunal Bothra 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.
Meghana Malkan of malkansview.com
Ranbaxy Laboratories is into higher top higher bottom formation in daily charts. Momentum indicators are bullish. This calls for a buy on the stock with a stoploss of Rs 660 for targets of Rs 702 and Rs 712.
UPL is attempting to move out of a rectangle pattern. It formed a bullish candle pattern in yesterday’s trading session. Volumes have been above average. This calls for a buy on UPL with a stoploss of Rs 338 for targets of Rs 371 and Rs 380.
Hemen Kapadia of KR Choksey Securities
ACC has reflected near-term weakness by showing negative divergence on the intraday charts. Mechanical indicators have signalled a sell, the stock is on the verge of entering an intraday downtrend indicating its intention to depreciate further from here. One can sell ACC at its closing of around Rs 1,516.
CESC has reflected near-term strength by giving a high volume recovery on the daily chart. Stock has also given a breakout of sorts, has closed above 55 day exponential moving average. Most of the daily mechanical indicators are supporting the move, has signalled a buy, indicating the stocks intention to appreciate further from here. One can buy CESC at its closing of around Rs 707, stoploss of Rs 703 and a target of Rs 715.
Kunal Bothra of LKP Securities
YES Bank formed a bullish flat formation, give a breakout above Rs 680-685, yesterday also it managed to close almost at the high point of the day. The volumes which are very important criteria for such a breakout were also at a three-four days high. So it gives you us a feeling that probably YES Bank has started a very strong momentum, also looking at the Bank Nifty doing pretty well over the last four-five trading sessions even though the markets are consolidating. I believe YES Bank would be a good buy. I believe a short-term target of Rs 725 could be possible, keep a stoploss of Rs 677.
Dish TV is an interesting pick because the stock after four-five months of consolidation is in the range of Rs 54-55 at the lower end and probably Rs 60-61 on the upper end. It is gearing up in terms of volume activity. Yesterday also the stock managed to close almost at the high point of the day. Rs 60 is a crucial level for Dish TV, if it manages to cross that zone, probably giving a buffer of 1 percent to Rs 61, if it manages to cross that in the next couple of days, I believe there could be a chance of a breakout happening of an inverse head and shoulder pattern with a neckline very close to Rs 61 levels on Dish TV. I think from a short-term to medium-term perspective, if the stock crosses Rs 61, it could be a buy with a target of Rs 69-74 and stoploss of Rs 55 on it.
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