On CNBC-TV18's show Super Six, market gurus Manas Jaiswal, manasjaiswal.com, Vishal Kshatriya of Edelweiss and Aditya Agarwal of Way2Wealth 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.
Vishal Kshatriya, Edelweiss
I am going long on MindTree. The stock has given flat pattern breakout with good volumes on its daily chart. Technical oscillators are also trading with a positive bias. Traders can initiate long with a target price of Rs 1,680, maintain stop loss below Rs 1,500.
I am going short on Union Bank of India. The stock has declining trendline resistance at current level. I expect supply in the stock from its resistance zone. Traders can initiate short at current market price with a target price of Rs 122, maintain stop loss above Rs 134.
Aditya Agarwal, Way2Wealth
I have a buy call on Indian Oil Corporation (IOC). It has given a breakout from a triangular pattern on higher side and it has managed to close above its resistance level of Rs 209-210a and with this the stock has also seen some short covering in Tuesday’s session. We are expecting that buying may continue and in next three-four trading sessions the stock may test Rs 225 levels. At current levels we are advising to make long position in IOC with a stop loss of Rs 204 and target of Rs 225.
I have a buy call on Punjab National Bank (PNB). If we see the whole public sector undertaking (PSU) banking space then we are seeing lot of buying at lower levels. Punjab National Bank gave a breakout from resistance level of Rs 630 and it has closed above that. We are expecting that buying may continue in PNB for next couple of days and on higher side it may test Rs 665 to Rs 670 levels. At current levels one may go long in PNB keeping a stop loss of Rs 616 and target of Rs 665- 670.
Manas Jaiswal, manasjaiswal.com
Future Retail has broken the neckline of inverse head and shoulder pattern with higher volumes on an intraday chart on Tuesday, so we may see a sharp upmove. The stock can test Rs 77 in the next one-two trading sessions. One can buy the stock at current levels with a stop loss of Rs 71.
Bank of India has started making higher tops and higher bottoms on intraday chart. On Tuesday it broke the resistance of Rs 224 with higher volumes, so we may see further upmove. The stock can test Rs 240 in the next one-two trading sessions. One can buy the stock at current levels with a stop loss of Rs 220.
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