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Super Six stocks you can bet on September 14

Manav Chopra of Networth Stock Broking advises buying Britannia Industries with a target of Rs 3100.

September 14, 2015 / 09:42 IST
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On CNBC-TV18's show Super Six, market gurus Jay Thakkar, Kunal Bothra and Manav Chopra, 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.Jay Thakkar of SharekhanReliance Infrastructure has given a good breakout from a downward sloping parallel channel. The previous move was a clear impulse move on the hourly charts. Now, this breakout also seems to be forming an impulse move on the upside. The stock is moving above its short-term moving averages, the daily indicators are into the buy mode. The hourly indicators have also come into the buy mode with a positive diversion. Based on these technical evidences, one can buy Reliance Infrastructure for a target of Rs 373 with a stoploss of Rs 339. The second buy recommendation is on Balmer Lawrie. One can buy this stock for target of Rs 574 with a stoploss of Rs 534. It has taken a good support at its monthly swing low. Before this support, this stock has fallen in a five year decline structure that is an impulse wave on the way down. So, minimum retracement of 32.2 percent of this entire fall is expected on the upside. For this week, one can target at least the levels of Rs 574 and the stoploss can be placed at Rs 534. Kunal Bothra of LKP SecuritiesThe first stock for the day is a buy on Bharat Petroleum Corporation (BPCL). After Friday’s last half an hour kind of sell-off, this was one of the few stocks on the oil marketing space, which managed to close almost at the high point of the day. In terms of the pattern on the hourly charts, the stock formed a swing breakout. It managed to break Rs 850 levels which were one of the crucial resistances from a short-term perspective. My sense is that over the next couple of days, I expect the stock to inch towards Rs 875 levels which is a target and keep a stoploss of Rs 840 on it.The second stock is a buy on Sangam India. It is one of the rare smallcap names in terms of price momentum. The stock managed to make a 52-week high on Friday, closed almost at the high point of the day, managed to break Rs 250 levels on intraday basis, so I am expecting that the volumes, the price momentum as well as couple of momentum indicators all of them, are in favour of the stock. In terms of price pattern, couple of days back, the stock formed a bullish pennant formation and the target for which comes to around Rs 275 levels. So, I am expecting that if the momentum continues for the stock, it could head to levels of Rs 275 and keep a stoploss of Rs 232 on the trade.Manav Chopra of Networth Stock BrokingMy first buy call is on Britannia Industries. The stock has been in a very good up trend since past few years. Recently the prices have declined and haltered near its long-term moving averages. On the daily charts, the prices have also formed a double bottom which indicates a strong support close to the levels of Rs 2,880-2,900 on the lower side. On the daily charts, the momentum is also in the positive zone which is indicating a start of a new uptrend. We therefore recommend a buy on dips approach with a stoploss of Rs 2,900 and we expect an upside target of Rs 3,100.My second buy call is on ICICI Bank. The prices have bounced from its oversold zone and has managed to close decisively above its falling trend line down from its recent peak which has confirmed a short-term reversal. At the current levels, we have seen strong support clusters around Rs 260 levels on the lower side which the stock has held in past few trading sessions. On 30 minutes charts, there is also a formation of bullish head and shoulder pattern which is indicating a strong bottom in place. At the current levels we recommend a buy with a stoploss of Rs 255 and we expect an upside target of Rs 295.

first published: Sep 14, 2015 08:55 am

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