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Super Six stocks you can bet on May 2

Sameet Chavan of Angel Broking is of the view that one may buy Gail India with a target of Rs 375.

May 02, 2016 / 13:23 IST
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On CNBC-TV18's show Super Six, market gurus Ashish Kyal, Sameet Chavan and Simi Bhaumik, 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.Ashish Kyal of wavesstrategy.comDabur India has managed to form a very important low near the zone of Rs 260-265 and is shown impulsive rise on upside. Also, over short-term it has given a positive pattern breakout and the trend should continue towards the zone of Rs 296-300. So one can create long position on Dabur India, keeping the stoploss of Rs 262 for a target of Rs 296 on the upside.We have seen some sharp sell offs in the previous sessions in HCL Technologies and the momentum is building up on downside. Also, it has taken out all the important pivot support and the downtrend should continue from here. So any pullback from here is going to be short-lived and should be utilised for creating short positions. So one can sell HCL Technologies, keeping a stoploss of Rs 790 and the target can be expected at Rs 690.Sameet Chavan of Angel BrokingOur first recommendation would be to buy Gail india for a target of Rs 375, stoploss can be placed at Rs 353. Last week we saw good price action in GAIL and the stock managed to surpass this recent trade of Rs 370 on a closing basis. However, due to lack of follow-up buying we saw some correction in GAIL from higher levels of Rs 374-375. However, we interpret this as a very good buying opportunity. Another buy call would be on Cipla for a target of Rs 565 and stoploss can be placed at Rs 523. This stock has already formed a strong base around its support level of Rs 490-500 and is now poised for a very good upside move looking at the daily chart structure, the stock is on the verge of giving a breakout from its recent hurdle of Rs 545. Thus we expect an immediate upmove, which could be towards Rs 555.Simi Bhaumik of simibhaumik.comBuy Maruti Suzuki with a stoploss of Rs 3725 and target of Rs 3930Buy Lupin with a stoploss of Rs 1575 and target of Rs 1665

first published: May 2, 2016 09:14 am

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