On CNBC-TV18's show Super Six, market gurus Vishal Malkan, Manas Jaiswal and Hemen Kapadia 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.
Vishal Malkan of malkansview.com
Century Textiles and Industries is a sell call. It has broken an important support of Rs 600 on daily closing basis. Intraday momentum has entered into bearish zone hence I recommend a sell with a stoploss of Rs 595 for targets of Rs 550 and Rs 545.
After a consolidation, Reliance Infrastructure has broken an important support of Rs 690 on daily closing basis. Price has started walking on the lower Bollinger band hence I recommend a sell with a stoploss of Rs 670 for targets of Rs 630 and Rs 610.
Manas Jaiswal of manasjaiswal.com
From the level of Rs 800, Reliance Infrastructure is making lower tops and lower bottoms on the daily chart. Yesterday it has broken support of Rs 680 with higher volumes, so this trend will continue in the coming days also. It can test Rs 610, that is its 200 day moving average. So one can go short at current levels, keep a stoploss above Rs 670.
Tata Power Company was trading in a range of Rs 92 and Rs 86 for the last ten trading sessions but yesterday it has broken this range downside with higher volumes, so we may see further weakness. It can test Rs 78 in next two-three trading sessions. One can go short at current levels, keep the stop loss above Rs 87.
Hemen Kapadia of KR Choksey Securities
I have a sell call on Bharat Heavy Electricals. It has reflected near-term weakness by giving a high volume downward buy reversal of the trading chart. The mechanical indicators are in sell mode, the stock is quoting with a 55-day exponential moving average indicating its intention to depreciate further from here. One can sell BHEL at its closing of around Rs 216 with a stoploss of Rs 219 and a target of Rs 210.
I have a buy call on Tata Consultancy Services (TCS). TCS has reflected near-term strength by almost from the verge of recovering from the oversold zone. Mechanical indicators have started turning positive indicating the chances of a recovery from here. One can buy TCS at its closing of around Rs 2,555 with a stoploss of Rs 2,540 and a target of Rs 2,585.
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