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Super Six short term picks for July 27

Ashish Kyal of wavesstrategy.com advises buying Ajanta Pharma with a target of Rs 1785.

July 27, 2016 / 11:16 IST
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On CNBC-TV18's show Super Six, market gurus Sumeet Jain, Ashish Kyal 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.Sumeet Jain of Destimoney SecMy first call is a sell call on Coal India. Today, there was a good increase on the momentum on the downside and the oscillators are also giving a weak signal. Hence I would like to short Coal India over here for targets of Rs 318 and I would like to keep a stoploss above Rs 336 for this trade.My second call is also a sell call on ICICI Bank. It was range bound since past 10 sessions and today it fell more than 2.5 percent. We have also witnessed an unwinding in at the money and in the money puts. Hence, I feel that bears are in control and I would like to short ICICI Bank over here for targets of Rs 251 and my stoploss would be above Rs 267 for this trade.Ashish Kyal of wavesstrategy.comThe first stock call today is going to be a buy on Ajanta Pharma. This stock has managed to break above the previous pivot high of Rs 1,660 and has also closed above the same which indicates that the trend over the short to medium term which is positive should continue from here on. And price should move towards target level of Rs 1,785. So one can create long positions on Ajanta Pharma keeping a stoploss of Rs 1,640 for the target of Rs 1,785 on the upside.Second call for today will be on the sell on Just Dial. The stock has been constantly failing to move above the 20-day as well as 50-day averages and even in the previous session, this stock has closed near the day’s low. So, overall trend is negative and one can short Just Dial keeping a stoploss of Rs 573 for the target level of Rs 470.Kunal Saraogi of EquityrushMy first stock call for the day will be a buy on Voltas which has broken out on the charts. The stock can be picked up on the current levels with the stoploss at Rs 339 and a target of Rs 350.My second pick will Reliance Power. This stock again broke out after a decisive kind of consolidation. The stock can be picked up at the current levels with a stoploss at Rs 53 and a target of Rs 57.

first published: Jul 27, 2016 09:10 am

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