Super Six stocks you can bet on October 30

Hemen Kapadia of KR Choksey Securities

ACC has reflected near term strength by entering a short-term uptrend which seems set to convert into an intermediate uptrend. Stock has sustained above the 55-days exponential moving average, has posted a higher top higher bottom, mechanical indicators are supporting the move, has signalled a buy indicating the stock’s intention to appreciate further from here. One can buy ACC at its closing of around Rs 1484, stoploss at Rs 1474 and target of Rs 1504.

Aditya Birla Nuvo is overbought at current levels but the mechanical indicators have signalled a sell after reflecting negative divergence. Stock is on the verge of entering an intraday downtrend indicating the stock’s intention to depreciate further from here. One can sell AB Nuvo at its closing of around Rs 1656, stoploss at Rs 1666 and target of Rs 1636.

Manav Chopra of Nirmal Bang

Arvind has managed to exceed its yesterday’s highs with above average volumes and the overall momentum indicators are still on a buy mode as the prices are still in a strong uptrend. At the current levels the stock on the intraday charts has formed a strong support cluster around the levels of Rs 292-293 on the downside. Buy with a stoploss of Rs 290 and target of Rs 320.

IDBI Bank has formed a negative reversal pattern on the momentum indicators which suggests that on the upside Rs 69-70 would act as strong hurdles. The prices also have been in an overall downtrend and the stock has been an underperformer in the market recently. The price also facing a strong resistance at the important Fibonacci clusters which indicates a short-term high is in place and probably the stock would find a strong resistance on the upside. At the current levels we recommend a sell with a stoploss of Rs 70 and expect a lower target of Rs 64.