On CNBC-TV18's show Super Six, market gurus Vishal Kshatriya of Edelweiss, Manas Jaiswal, Technical Analyst at manasjaiswal.com and Vikrant Jadeja of Vibrant Trades 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 Kshatriya of Edelweiss
I am going long on Lupin. In overall trend, the stock is positive which is depicted by formation of higher tops and higher bottoms on its daily chart. The stock has seen long build-up, which is indicated in open interest data. Traders can initiate long with a target price of Rs 1,000-1,020 with a stop loss of Rs 900.
I am going long on Ranbaxy Laboratories. The stock has given breakout with good volumes on its daily chart. Derivatives data also indicate long build-up in a stock. Traders can initiate long with a target price of Rs 520, maintain stop loss below Rs 450.
Manas Jaiswal, Technical Analyst at manasjaiswal.com
Apollo Tyres witnessed some buying interest on Friday after two days of correction. It has made a bullish engulfing pattern on the daily chart, so we may see further recovery. The stock can test Rs 110 in next one-two trading sessions. One can buy the stock at current levels with a stop loss of Rs 102.
Lupin was trading in a narrow range of Rs 900-925 for last two weeks but on Friday it has broken this range upside with higher volumes, so we may see a sharp upmove. The stock can test Rs 975 in next one-two trading sessions. One can buy the stock at current levels with a stop loss of Rs 915.
Vikrant Jadeja of Vibrant Trades
Despite of some kind of high volatility since last two-three trading sessions, some of the pharmaceutical counters are showing good strength from the current levels which is indicated by certain kind of high timeframe intraday charts, which suggests that we may see some kind of higher levels in long positions. One can accumulate long positions in Sun Pharmaceutical Industries at current market price with a stop loss of Rs 570 on closing basis; expect a target of Rs 590 in the next one-two trading sessions.
Due to some kind of bearishness seen in the market since last two trading sessions, we may see some kind of breakdown on daily charts in Sesa Sterlite. We may see levels of Rs 190 on the downside, so one can take the short positions at current market price in Sesa Sterlite with a stop loss of Rs 202 on closing basis for the day trade.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
