On CNBC-TV18's show Super Six, market gurus Vishal Kshatriya of Edelweiss, Manas Jaiswal, Technical Analyst at manasjaiswal.com and Vikrant Jadeja of Vibrant Trades 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 of Edelweiss
I am going short on Bank of India. Derivatives data indicates aggressive short build-up in the stock. Technically the stock is trading near its important resistance area. I expect supply from current level and hence recommend going short with a target price of Rs 210, maintain stop loss above Rs 245.
I am going long on Dabur India. An open interest data indicates aggressive long build-up in the stock. Technical oscillators have also given buy signal. Traders can initiate long with a target price of Rs 185 and Rs 190, maintain stop loss below Rs 165.
Manas Jaiswal, Technical Analyst at manasjaiswal.com
Yesterday Idea Cellular witnessed good buying interest at lower levels. On the daily chart, it has made a bullish engulfing pattern and oscillators are showing positive cross over, so we may see recovery. The stock can test Rs 170 in next two-three trading sessions. One can buy the stock at current levels with a stop loss of Rs 159.
Essar Oil has broken the neckline of inverse head and shoulder pattern on daily chart with higher volume, so we may see a sharp upmove. The stock can test Rs 60 in next one-two trading sessions. One can buy the stock at current levels with a stop loss of Rs 54.
Vikrant Jadeja of Vibrant Trades
Largecap counters like Wipro has given a breakdown on hourly chart in last trading session, which indicates that we may expect some kind of levels around Rs 529 in next two-three trading sessions. So, one can use this opportunity to go short in this counter with a stop loss of Rs 558, expect a target of Rs 530 on the downside in the next two-three trading sessions.
Despite some kind of bearishness on hourly chart in some of the largecaps, HDFC has managed to maintain some kind of positive momentum and we may expect this momentum to continue in the next two-three trading sessions. We may expect a rate of Rs 812 in the next two-three trading sessions. One can maintain a stop loss of Rs 790 on closing basis for the long positions in HDFC.
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