On CNBC-TV18's show Super Six, market gurus Gaurav Ratnaparkhi of Sharekhan, Manav Chopra of Networth Stock Broking and Meghana Malkan of malkansview.com 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.
Gaurav Ratnaparkhi of Sharekhan
I have a buy call on Adani Power. Adani Power is a substantially beaten down stock. However, if you look at the recent structure, we can see a short-term base formation on the daily chart. The daily momentum indicator has turned bullish and it has entered positive territory in the last session. However, the weekly momentum indicator is still in oversold territory and it needs to cool off. So, we can witness a sharp spike in this counter over next couple of sessions. Stop loss can be placed at Rs 29 and target will be Rs 32. IFCI has formed a basing triangular pattern on the daily chart and in the last session it has broken out on the upside. In terms of bar patterns the stock has formed a bullish outside bar in the last session and these bullish developments have taken place on the backdrop of bullish daily momentum indicator. So, all these observations suggest that a decent bounce is on the card. From trading perspective on can place stop loss at Rs 26.20 and target will be Rs 28.80.
Manav Chopra of Networth Stock Broking
My first buy call is on Canara Bank. The stock after series of decline has formed a short-term reversal formation at the oversold territory which is indicating a short-term trend reversal on cards. The prices have also managed to close above its short-term moving averages which indicates a rise in the near-term perspective. There is a limited downside on the stock and we recommend a buy with a stop loss of Rs 280 for an upside target of Rs 315. My second buy call is on Engineers India (EIL). The stock has seen series of high tops and bottoms in the charts recently which indicates that the stock is in a short-term up trend, the volume indicates the prices would move higher in the near-term and we recommend a buy with a stop loss of Rs 235 for an upside target of Rs 260.
Meghana Malkan of malkansview.com
My first call is a buy on SKS Microfinance. The stock has recently broken above the previous resistance of Rs 500 levels and it is attempting to move at the previous resistance of Rs 525 levels. This calls for a buy on the stock with a stop of Rs 492 for a target of Rs 530 and Rs 545.My second call is a buy on TVS Motor. Momentum and higher –timeframe charts on this stock is very good. Momentum on daily timeframe has also moved into the bullish levels. It formed bullish candlestick pattern in weekly charts in the last week. Hence a buy call with a stop of Rs 248 for targets of Rs 270 and Rs 278.
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