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Super Six: Top chart picks for November 3

Manav Chopra of Monarch Networth Capital suggests buying Apollo Hospitals Enterprises with a target of Rs 1420.

November 03, 2015 / 09:48 IST
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On CNBC-TV18's show Super Six, market gurus Meghana V Malkan, Manav Chopra and Jay Thakkar, 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.Meghana V Malkan of malkansview.comMy first call is a buy on Tata Chemicals, Rs 405 has been acting as a good support on the stock which has not broken in yesterday's trading session. It has formed a bullish candlestick pattern at that level. This calls for a buy on Tata Chemicals with a stoploss of Rs 405 and a target of Rs 432.My second call is a buy on Bharat Petroleum Corporation Ltd (BPCL). The recent decline has made a low of Rs 866 which is a rising cap in daily charts. Volumes have been good in yesterday's trading session. Therefore a buy on BPCL with the stoploss of Rs 866 for the target of Rs 910.Manav Chopra of Monarch Networth CapitalMy first buy call is on Apollo Hospitals Enterprises. The stock has recently observed a sharp decline from its recent peak of Rs 1,500. The price recently has sustained its long-term moving averages close to the levels of Rs 1,300-1,320 on the lower side. At the current levels, the stock is a buy on dips approach with a stoploss of Rs 1,310 and we expect an upside target of Rs 1,420.My second call as well is on Housing Development and Infrastructure (HDIL). The stock recently has breached its rising trendline drawn from its recent lows which has confirmed the short-term reversal formation. Recently, the fall has also accompanied by above average volumes which suggests that Rs 72 is a short-term high and we recommend a sell with a stoploss of Rs 73 and expect lower targets of Rs 66.Jay Thakkar of SharekhanMy first call is on ACC Futures. This stock had given a good breakout from a falling wage pattern. After taking support at the multi-month lows, the indicators on the daily and the weekly charts are well into the buy mode and the hourly indicators have also again come into the buy mode. We see levels of around Rs 1,480 on the upside which is a near-term target in ACC. One can place the stoploss at around Rs 1,367 levels.Second buy call is on Eicher Motors. The next five year rise has already started and the minimum target comes to around Rs 19,200-19,300 levels on the upside but on the immediate basis, I think that the stock will be there. Hence one can buy Eicher Motors futures for the target of Rs 19,000 with a stoploss of Rs 17,650 levels.

first published: Nov 3, 2015 08:50 am

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