On CNBC-TV18's show Super Six, market gurus Gaurav Ratnaparkhi, Meghana V Malkan and Shrikant Chouhan 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.
Gaurav Ratnaparkhi of Sharekhan
Andhra Bank has a potential to form a double-bottom pattern whose implication will be bullish from short-term as well as medium-term perspective. In the last session, the stock has formed the bullish outside bar at the daily lower Bollinger band. The daily momentum indicator has formed a bullish hook pattern. All these observations suggest that the stock has a decent upside potential from current level. From trading perspective stoploss can be placed at Rs 72 and target will be Rs 77.
Power Grid Corporation of India seems to have formed a short-term base near its crucial daily moving averages and has started moving higher. In the last session, the stock has given breakout of a bullish inside bar on the daily charts and has started next leg on the upside. The daily momentum indicator is in line with the upmove. So this is a good counter to go long on from trading as well as short-term perspective. From trading perspective, stoploss can be placed at Rs 133.20 and target will be Rs 142.50.
Meghana V Malkan of malkansview.com
JSW Energy seems to be breaking out of a consolidation. It began tacking the upper band of the Bollinger band in yesterday’s trading session. It also formed a bullish candlestick pattern with above average volumes. This calls for a buy on JSW Energy with a stoploss of Rs 81 for targets of Rs 86.50 and Rs 90.
Ashok Leyland is supported by good moves in similar stock in the same sector. It is into higher top-higher bottom formation in daily charts. Momentum indicators are bullish hence a buy call with a stoploss of Rs 41 for targets of Rs 42.50 and Rs 44.
Shrikant Chouhan of Kotak Securities
Ashok Leyland closed into all time highest levels at Rs 41 and eventually it is going to hit the levels of Rs 65-70 as per overall long-term chart. At least, in the near-term, maybe today or tomorrow, it can hit the levels of Rs 47-48. So we can take long positions at current levels with a stoploss at Rs 39 for the target of Rs 47.
National Aluminium Company has broken its bullish consolidation at Rs 65 and it closed above it along with huge volumes. We are expecting the stock to hit the levels of Rs 70-71 in the next one-two days time. We can take long positions at current levels with a stoploss at Rs 62.50.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
