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Super Six: Top chart picks for December 8

Ashish Kyal of wavesstrategy.com advises buying Asian Paints.

December 08, 2015 / 09:58 IST
     
     
    26 Aug, 2025 12:21
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    On CNBC-TV18's show Super Six, market gurus Ashish Kyal, Gaurav Ratnaparkhi and Aditya Agarwal, 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.Ashish Kyal of wavesstrategy.comThe first stock today is going to be a buy on Asian Paints. This stock has bounced back very sharply from the level of Rs 830 where it seems to have formed a very good base and it has also managed to cross above its 50 period early moving average. So one can buy Asian Paints with a stoploss of Rs 840 and target can be expected at Rs 915.The next call is going to be sell on NMDC. We have seen the pressure continued over the metal space and NMDC has given a negative close below the important pivot support, which was near Rs 93 levels. So the downtrend can continue in this stock and one should keep a stoploss of Rs 93 on upside and the target can be expected at Rs 85.Gaurav Ratnaparkhi of SharekhanI have a buy call on Shriram Transport Finance. The stock after a significant fall has taken support near a rising trendline drawn from crucial swing lows. At that support, the stock has formed a bullish inside barring the last session. The bullish formation has taken place on the backdrop of bullish daily momentum indicator. So the stock can attempt a decent bounce and equality target for the bounce will be Rs 898. Stoploss can be placed at Rs 839.Tech Mahindra is in a pullback mode from short-term perspective and the upmove is breaking up into lower degree base. Since last two sessions, the stock is in a consolidation mode and the consolidation is on the verge of a breakout on the upside. In the last session, the stock has formed an engulfing bull candle on the daily chart. Even the daily momentum indicator is in line with the bullish expectation. So I have a buy call on Tech Mahindra with a stoploss at Rs 535 and target will be Rs 568.Aditya Agarwal of Way2Wealth SecuritiesFirst call for the day will be a buy call in LIC Housing Finance. Around Rs 455, the stock has a strong support. 200 days moving average (DMA) also comes in the range of Rs 455 and from those levels, we saw some fresh long positions getting built up in F&O in yesterday's session. We are expecting that from these levels, stock may see a good pullback and on the higher side can test Rs 475 to Rs 480 levels. So one can go long in LIC Housing Finance at current levels keeping a stoploss of Rs 452.Second call for the day will be a sell call in Cipla. In this stock we are continuously seeing profit booking at higher levels in the range of Rs 660-665 and some profit booking is there. Yesterday it broke its support level of Rs 650 and it has settled below that. We are expecting the selling pressure may continue and on the lower side the stock may test Rs 630 levels. Keeping a stoploss of Rs 655, one can short Cipla keeping the target of Rs 630.

    first published: Dec 8, 2015 09:58 am

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