Super Six: Top chart picks for Tuesday

On CNBC-TV18's show Super Six, market gurus Simi Bhaumik, Gaurav Bissa and Ashish Kyal 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.Simi Bhaumik of simibhaumik.comHindustan Petroleum Corporation (HPCL) is looking weak on technical parameters. It has formed a pennant formation on daily chart and most likely, this pennant is going to be broken on the downside. Go short at current levels or any rally till it holds below Rs 750. Maintain a stoploss above Rs 756. Targets on the downside will be Rs 726 and Rs 722.Vedanta, overall a weak stock and it seems that its short-term relief rally is through for the time being. Go short with a stoploss above Rs 73.50. Expecting a retest of Rs 67-68 on the downside.Gaurav Bissa of LKP SecuritiesMy first recommendation is a buy on Marico. This stock had seen a good amount of short positions once the quarterly numbers were out. A good amount of short covering on a concession basis has been seen so far. I would recommend going long on this stock for a target of Rs 250. One can have a stoploss at Rs 226My second recommendation today is a sell on Castrol India. It has been witnessing a long unwinding day in, day out, though the fresh shorts are not seen getting built and probably that is the reason why it has not been able to close below Rs 405, the very crucial level of Rs 405. All in all, the stock looks negative, one can initiate a sell for a target of Rs 380. One can have a small stoploss at Rs 422.Ashish Kyal of wavesstrategy.comFirst pick today is going to be a buy on Marico. It has formed a good inverse head and shoulder pattern on the downside and given a breakout above the neckline which is at Rs 225. So, one can initiate a buy on this stock with a stoploss of Rs 224 and the target can be expected at Rs 250.The next stock is going to be on the sell side, NTPC. This stock has just moved sideways when Nifty was showing some kind of a relief sign. However, as soon as there was a down move, we saw that NTPC broke even its previous low of over past few days. So, the stock is underperforming, and this underperformance might continue over the next few days as well. So, one can sell NTPC with a stoploss of Rs 128 and the target can be expected at Rs 116.