On CNBC-TV18's show Super Six, market gurus Vishal Kshatriya, Hemen Kapadia and Manas Jaiswal, 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.
Vishal Kshatriya of Edelweiss
Colgate Palmolive managed to bounce back from its important support of Rs 1500. Besides this, stock has also formed bullish candlestick pattern on its weekly chart. Traders can initiate long at current market price with a target price of Rs 1700, maintain stoploss below Rs 1460.
My second pick for the day is going short on Larsen and Toubro (L&T). Overall short-term trend in the stock is negative which is depicted by formation of lower tops and lower bottoms on its daily chart. Besides this, stock has also given a breakdown on its intraday chart. Traders can initiate short at current market price with a target price of Rs 1430, maintain stoploss above Rs 1590.
Hemen Kapadia of KR Choksey Securities
I have a sell call on Tata Motors. Tata Motors has reflected near term weakness by showing negative divergence on the intraday charts. The stock is already highly overbought. The stock is on the verge of entering an intraday uptrend. Mechanical indicators have signalled a sell indicating the stocks intention to depreciate further from here. One can sell Tata Motors at its closing of around Rs 525 and stoploss of Rs 529 and a target of Rs 517.
I have a buy call on Rural Electrification Corporation. It has reflected near term strength by giving an upward key reversal on the daily chart. The stock has entered in intraday uptrend. Mechanical indicators on the intraday charts have signalled a buy are supporting the move indicating the stocks intention to appreciate further from here. One can buy REC at a closing of around Rs 268 and a stoploss of Rs 265 and a target of Rs 274.
Manas Jaiswal of manasjaiswal.com
Bharat Heavy Electricals (BHEL) has broken the neckline of inverse head and shoulder pattern on the daily chart with very good volume. So, we may see further up move. It can test Rs 254 in next two to three trading sessions. One can buy the stock at current levels; keep a stoploss below Rs 232.
Idea Cellular has given a triangular breakout on the daily charts with very good volumes. Oscillators are showing positive crossover so we may see further up move. It can touch Rs 170 in next two to three trading sessions. One can buy the stock at current levels; keep a stoploss below Rs 158.
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