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Last Updated : Jun 16, 2016 09:52 AM IST | Source: CNBC-TV18

Super Six stocks you can bet on June 16

Jay Thakkar of Sharekhan is of the view that one may buy Bharat Electronics with a target of Rs 1314.

On CNBC-TV18's show Super Six, market gurus Gaurav Bissa, Jay Thakkar and Hemen Kapadia, 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 Bissa of LKP Securities

Buy Rural Electrification Corporation with a stoploss at Rs 160 and target of Rs 180

Sell Ashok Leyland with a stoploss at Rs 106 and target of Rs 98

Jay Thakkar of Sharekhan

The first one is on Bharat Electronics (BEL). The stock with yesterday’s positive close seems to have started its wave five on the upside on the daily charts. In the wave four it corrected forming a wedge pattern on the hourly charts. In yesterday’s trading session it has given a good breakout from this wedge pattern. I recommend to buy BEL for a target of Rs 1,314 with a stop loss of Rs 1,231.

Second buy recommendation is on Sundram Fasteners; well this stock has given a good breakout with a good increase in its volumes. The momentum indicators have turned into the buy mode on all the degree that is daily, weekly as well as monthly charts. This stock has given a classic breakout from a flat pattern. So, I recommend to buy Sundram Fasteners for a target of Rs 210 with a stop loss of Rs 176.

Hemen Kapadia of KRChoksey Sec

I have buy call on Aditya Birla Nuvo. This stock has reflected near-term strength. It is taking a high volume recovery. The mechanical indicators on the intraday charts have turned positive; have signalled a buy indicating the stocks intention to appreciate further from here. One can buy Aditya Birla Nuvo at its closing of around Rs 1,050 with a stoploss of Rs 1,043 and a target of Rs 1,064.

I have a buy call on Ambuja Cements; it has shown near-term strength the stock has sustained above the 55-day moving average. Mechanical indicators on the intraday charts as well as the daily charts have turned positive have signalled a buy indicating the stocks intention to appreciate further from here. One can buy Ambuja at its closing of around Rs 238, stoploss at Rs 235 target of Rs 244.
First Published on Jun 16, 2016 08:51 am
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