Meghana V Malkan of malkansview.com advises buying Jubilant Foodworks with a target of Rs 1968.
On CNBC-TV18's show Super Six, market gurus Meghana V Malkan, Manas Jaiswal and Hemen Kapadia, 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 V Malkan of malkansview.com
I have a buy call on Hindustan Petroleum Corporation (HPCL). However, Rs 950 was acting as resistance earlier which was broken in Friday's trading session with a big wide candlestick with above average volumes. Buy the stock with a stoploss of Rs 960 for a target of Rs 1,010.
I have a buy call on Jubilant Foodworks. The stock is forming higher tops-higher bottom on daily charts. It is moving up on good volumes, momentum is also into the bullish zone. Hence, a buy call with a stoploss of Rs 1910 for a target of Rs 1968.
Manas Jaiswal of manasjaiswal.com
I have a buy call on Oil and Natural Gas Corporation (ONGC). The stock made a strong base near Rs 265 and Friday it bounced back sharply, it broke the resistance of Rs 275 with higher volumes, so we may see further recovery. It can test its 50 day moving average which is placed at Rs 295 and that's our target. One can buy the stock at current levels; keep a stoploss below Rs 276.
I have a buy call on Bharat Petroleum Corporation (BPCL). The stock is making higher tops and higher bottoms on the daily chart. On Friday it broke the neckline of inverse head and shoulder pattern on the intraday chart with higher volumes, so we may see further upmove. It can test its recent high of Rs 987 and that's our target. One can buy the stock at current levels; keep a stoploss below Rs 940.
Hemen Kapadia of KR Choksey Securities
I have a buy call on Indian Oil Corporation (IOC). The stock has reflected near term strength by giving high volume, upward key reversal on the daily chart. The stock has turned positive on the intraday charts, so mechanical indicators have signalled a buy, indicating the stock intention to appreciate further from here. One can buy IOC at closing of Rs 427 with a stoploss of Rs 423 and target of Rs 435.
I have a buy call on Power Finance Corporation (PFC). The stock has reflected near term strength by giving high volume, upward bar reversal on the daily charts, the mechanical indicators have also turned positive, signalled a buy. The stock has given mini breakout on the intraday charts indicating the stock intention to appreciate further from here. One can buy PFC at closing of Rs 251 with a stoploss of Rs 248 and target of Rs 257.The Great Diwali Discount!
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First Published on Aug 10, 2015 08:55 am