On CNBC-TV18's show Super Six, market gurus Gaurav Ratnaparkhi, Meghana V Malkan and Manav Chopra, 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
I have a buy call on JSW Energy. In terms of price pattern the stock seems to have formed a multi week diamond pattern which is likely to be a continuation pattern in this particular case which means that the pattern can breakout on the upside and the stock can resume with larger uptrend. The daily momentum indicator is inline with the bullish expectation since last couple of sessions volumes have started picking up ahead of the pattern breakout. So, this is a good buying candidate from trading perspective. Stoploss can be placed at Rs 76 and target will be Rs 83.
Mahindra & Mahindra Financial Services is in an uptrend from short to medium-term perspective. The stock is comfortably trading above its crucial daily moving average. The daily momentum indicators are in sync with the rally. In the last session the stock has formed a bullish belt, hold candle along with bullish outside bar and these bullish formations further reinforce the uptrend. This is also a good buying candidate from trading perspective. The stoploss can be placed at Rs 273 and target will be Rs 293.
Meghana V Malkan of malkansview.com
I have a buy call on Titan Company. The stock has good support at Rs 355 level which is an original breakout zone. It has been consolidating at this level with very low volumes since the past two-three trading sessions. Hence a buy call with a stoploss of Rs 355 for targets of Rs 378 and Rs 386.
I have a buy call on United Spirits. The stock is taking support at 20 period moving averages on daily charts. It went up in yesterday’s trading session with good volume. Hence a buy call with a stoploss of Rs 2,380 for targets of Rs 2,440 and Rs 2,455.
Manav Chopra of Nirmal Bang Securities
I have a buy call on Rural Electrification Corporation (REC) limited. The stock has absorbed a sharp decline and yesterday the prices formed a bullish hammer pattern which indicates a short-term bottom in place. There are several positive divergence parameters which are indicating a short-term trend reversal and most of the prices have bounced from its oversold zone. We expect a good short-term rally in the near term perspective and we can expect an upside target of close to Rs 300. On the lower side Rs 265 to Rs 268 are the strong support clusters and we recommend a buy on dips approach with a stoploss of Rs 260.
I have a buy call on Canara Bank. The stock overall has seen a good rise from its recent lows and the prices have also breached its important trend line which has confirmed a short-term to medium-term trend reversal. The prices did see a good support near its important long-term averages and going forward we expect the stock to take out its important highs which gives us a good upside target close to Rs 440. The momentum indicators in the stock as still in the buy mode and at the current levels we recommend a buy on dips with a stoploss of Rs 385.
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!
