On CNBC-TV18's show Super Six, market gurus Manas Jaiswal, Hemen Kapadia and Pritesh Mehta 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
Tata Motors has broken the neckline of head and shoulder pattern and its 50 day moving average with good volumes, so it’s a bearish chart. We may see further downside; it can test Rs 475 in next two-three trading sessions, so one can go short with a stoploss of Rs 502.
Arvind is making lower tops and lower bottoms on daily chart. Friday it broke the support of Rs 282 and it broke the 50 day moving average also, so one may see further downside. It can test Rs 270. One can go short with a stoploss of Rs 286.
Hemen Kapadia of KR Choksey Securities
I have a buy call on Mindtree. The stock has reflected near term strength by giving an upward key reversal on the daily chart. The stock is deeply oversold on the intraday chart, has reflected positive divergence, mechanical indicators are supporting the move, have signaled a buy indicating the stock’s intention to appreciate further from here. One can buy Mindtree at closing of Rs 1,043 with a stoploss of Rs 1,035 and target of Rs 1,059.
I have a sell call on Arvind. Arvind has reflected near term weakness, is in the midst of short-term downtrend, it could convert into an intermediate downtrend. It has posted lower tops-lower bottoms, mechanical indicators are in sell mode, are supporting further downside indicating the stock’s intention to depreciate further from here. One can sell Arvind at closing of around Rs 282, stoploss of Rs 285 and target of Rs 276.
Pritesh Mehta of IIFL
I have a sell call on Jubilant Foodworks' October Futures. This is a classic case of false breakout. At the start of the month the stock gave a breakout from a falling wedge pattern. However, failed to sustain at higher levels and instead it came crushing down and now the breakout turnout to be void. In the process the stock gave a close below its multiple moving averages, whenever positive pattern fails to worsen itself the implication of the same turns out to be extremely negative. So, we expect Jubilant Foodworks to continue with recent pattern of lower tops and sell for a target of Rs 1,175 maintain a stoploss of Rs 1,250.
I have a buy call on Power Finance Corporation (PFC). The stock has been moving downward sloping channel since the month of June. However, since last two weeks the stock has been sustaining above its 200 day moving average also the stock has been consolidating at the lower end of the trading channel which is indicating that the worst might be over and also on the short-term chart the stock has given a breakout from a range bound trading pattern, so buy PFC for a target of Rs 260 and maintain a stoploss of Rs 232.
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