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Super Six stocks you can bet on August 19

Jay Thakkar of ShareKhan is of the view that one may buy Tata Chemicals with a target of Rs 488.

August 19, 2015 / 09:24 IST
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On CNBC-TV18's show Super Six, market gurus Gaurav Bissa, Jay Thakkar and Kunal Saragoi 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 Bissa of LKP SecuritiesMy first recommendation today is a buy on Indian Oil Corporation (IOC), I recommend going long on in the stock. The target for the same would be around Rs 415 keeping the stoploss at Rs 392. Having said that, I would again say similar, not only IOC but Bharat Petroleum Corporation and Hindustan Petroleum Corporation can also see good amount of jump from current levels. All the stocks in our oil marketing companies (OMC) can be kept on radar.Second recommendation today is a sell Idea Cellular. The reason I am giving a sell recommendation Idea Cellular is that the levels of Rs 165 are very crucial. The reason being for that on multiple expiries, the last three or four expiries, it witnessed good amount of short covering from Rs 165 zone and witnessed upside of Rs 175-180. This time around, it has been closing below Rs 160-165 levels, so shorts are seen getting built. The momentum indicators are also leaning in a southwards direction. So, that again is ready to put some pressure in this stock. So, I recommend going short with a stoploss at Rs 165 and play for targets of Rs 150.0Jay Thakkar of ShareKhanTata Chemicals seems to have completed its zig-zag corrective pattern. Last week, this stock has formed a hammer candlestick pattern. This is a bullish reversal candlestick pattern. Now, with yesterday’s positive flows, the next five waves up, that is the next impulse pattern has ensued. And this will help the stock to reach towards the levels of Rs 488. So, one can buy at current market price for a target of Rs 488 whereas a stoploss can be placed at Rs 460.The second buy call is on HCL Technologies. It has formed a classic symmetrical triangular pattern and within this triangle, it has formed a smaller triangular pattern. So, range is getting narrower and narrower. A break out on the upside can come anytime soon. The way the momentum indicators are giving a buy crossover, this will help the stock to reach towards the levels of Rs 1,006 and the stoploss for the trade can be kept at Rs 954.Kunal Saragoi of EquityrushMy first stock call is a buy on Syndicate Bank with a stoploss at Rs 100 and a target of Rs 110.My second call is a buy on Infosys with a stoploss of Rs 1,150 and a target of Rs 1,250

first published: Aug 19, 2015 08:48 am

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