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Super Six intraday picks for the day

Jay Thakkar of Sharekhan is of the view that one may buy Balrampur Chini Mills with a target of Rs 137.

July 13, 2016 / 11:59 IST
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On CNBC-TV18's show Super Six, market gurus Sameet Chavan, Jay Thakkar and Kunal Saraogi, 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.Sameet Chavan of Angel BrokingI have a buy call on ICICI Bank for a target of Rs 280. On the daily chart this stock confirmed a price volume breakout from a major resistance of Rs 256-257 on closing basis. If you look at the daily as well as weekly chart structure, we expect this stock to climb towards Rs 280 over the next few sessions, so it can be bought by keeping a strict stoploss Rs 249. I have a buy call on Tata Steel for a target of Rs 363. Yesterday this stock confirmed a price volume breakout from a downward sloping channel. However, looking at the overall chart structure along with the price volume movement, we expect this stock to move towards 52-week high which is around Rs 363. It can be bought on any dip by keeping a strict stoploss at Rs 328.5.Jay Thakkar of SharekhanBuy Steel Authority of India (SAIL) for a target of Rs 53.50 with a stoploss of Rs 47.50. This stock has given a good breakout from an inverse head and shoulder pattern which is a bullish pattern. The move prior to the breakout was a five wave rising structure - that is an impulse move and when this breakouts I am expecting the same move to happen on the upside. The minimum equality target for this comes to Rs 53.50 which is the short-term target and for that one can maintain a stoploss at Rs 47.50. I have a buy call on Balrampur Chini. Since last couple of days I have seen this stock consolidating and in that process it has formed a good symmetrical triangular pattern. I am expecting a breakout from this pattern on the upside which has a target of minimum Rs 137. One can buy Balrampur Chini for a target of Rs 137 with a stoploss of Rs 127. Kunal Saraogi of EquityrushI have a buy call on DLF which has broken out fresh on the charts, high beta stocks are doing better than the market, so one can buy DLF at the current levels and put a stoploss at Rs 157 and look for a target of Rs 167 on DLF. I have a buy call on Jindal Steel & Power which is an underperformer but has broken out on the charts. It can be picked with a stoploss at Rs 71 and a target of Rs 80.

first published: Jul 13, 2016 08:51 am

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