On CNBC-TV18's show Super Six, market gurus Pritesh Mehta of IIFL, Aditya Agarwal of Way2wealth and Shrikant Chouhan of Kotak Securities 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.
Pritesh Mehta of IIFL
My first recommendation is buying on Mahindra and Mahindra (M&M), after a sharp decline in late December and early month of January the stock consolidated at lower levels but it is making all the right bullish patterns. In yesterday's trade it broke off from the inverted head and shoulder pattern after five weeks of consolidation. Now, this is bullish in nature. Now it has already seen sharp gains in today's trade. I am expecting the stock to build upon these gains in next few days. So, buy M&M above Rs 930 with stop loss of Rs 915 for a target of Rs 975.
My second recommendation is buying on Adani Ports and Special Economic Zone; the stock had been consolidating, hovering around the support of its 200 day moving average (DMA) for last five weeks. During this process of consolidation the stock built a strong trading base and moved gradually higher. In yesterday's trade it broke out from a rounding bottom formation which is again bullish in nature. It suggests that we are done with the correction and a fresh step is taken on the up side. So, buy Adani Ports above Rs 152 with stop loss of Rs 148, for a target of Rs 160.
Aditya Agarwal of Way2wealth
My first call for the day will be a buy call on Mcleod Russel (India). This stock has seen a sharp correction last couple of weeks but on lower side Rs 250 acted as a very strong support area and from those levels only we are seeing some fresh buying in the counter. Yesterday in the last half hour trading we saw some short covering also from Rs 250 levels. So, we are expecting this stock may see a good bounce from these levels and on the higher side the stock may test Rs 265-268 levels. At current levels one can buy Mcleod Russel keeping the stop loss of Rs 248 and on higher side target only Rs 265 and Rs 268.
I have a buy call on IDBI Bank. The Bank was trading in the narrow band of Rs 3-3.5 for the last couple of days and in yesterday’s session the stock has given a breakout above its resistance level of Rs 56. On higher side we are expecting that the stock may touch Rs 60 levels in one or two trading sessions. At current level one may go long in IDBI with a stop loss of Rs 54 and target of Rs 60.
Shrikant Chouhan of Kotak Securities
For the day my first recommendation is to buy Lupin. On weekly basis the stock is already into bullish consolidation. On Monday the stock closed above an important resistance area of Rs 900. While looking at overall setup it's a strong bet at a current level to buy for with a minimal stop loss at Rs 900 for the target of Rs 945
For the day my second recommendation is to buy Punjab National Bank (PNB). The stock is very close to its important support area of Rs 520-510. The stock has formed higher bottom on daily basis at Rs 520 and on intraday basis the stock is diverging positively. Broadly, the stock is showing lot of momentum and we are of the view that in next few days of time it will contribute to the overall gains of the Bank Nifty. One can trade long in PNB at current levels with a final stop loss of Rs 520 for the target of Rs 560.
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