On CNBC-TV18's show Super Six, market gurus Manas Jaiswal of manasjaiswal.com, Meghana Malkan of malkansview.com and Hemen Kapadia of KR Choksey 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.
Manas Jaiswal of manasjaiswal.com
For last two-three trading sessions Indian Oil Corporation (IOC) was facing a resistance near Rs 227 but yesterday it has broken this resistance and its 200 day moving average (DMA) also. So we may see further upmove. The stock can test Rs 235 in next one-two trading sessions. One can buy the stock at current levels with a stop loss of Rs 226.
Bank of India (BoI) has given a triangular breakout on the daily chart with higher volume. So we may see further upmove. It can test Rs 254 in next three-four trading sessions. One can buy the stock at current levels with a stop loss of Rs 242.
Meghana Malkan of malkansview.com
My first recommendation for the day is a buy on UltraTech Cement. This stock has formed a higher bottom on daily charts along with the key reversal candlestick pattern. Momentum indicators are also on support zone. Hence, I would recommend going long on this stock with a stop of Rs 1,680 for a higher target of Rs 1,720.
My second call is a buy on Tata Motors. This stock has been trading in a range of Rs 360 to Rs 380 levels for the past few trading sessions. It has broken above that range. It has also crossed the high of last five weeks. In the daily charts that is tagging the upper band of the Bollinger band; hence I would recommend going long with a stop of Rs 380 and a higher target of Rs 398.
Hemen Kapadia of KR Choksey Securities
I have a buy call on Bajaj Auto. It has reflected strength by giving a mini breakout. The stock has also closed above the 55 day exponential moving average (EMA) while the mechanical indicators are supporting the move indicating the stock’s intention to appreciate further from here. One can buy Bajaj Auto at its closing of around Rs 1,940 with a stop loss of Rs 1,940 and an intraday target of Rs 1,970.
I have a buy call on Canara Bank. It has reflected strength by giving by entering an intraday uptrend. Once again it has also closed above 55-day exponential moving average (EMA) and the mechanical indicators in the intraday charts are supporting the move. One can buy Canara Bank at its closing of around Rs 267 with a stop loss of Rs 264 and an intraday target of Rs 273.
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