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Super Six trading stocks for short term gain

Ashish Kyal of wavesstrategy.com is of the view that one may buy Crompton Greaves with a target of Rs 204.

October 19, 2015 / 10:43 IST
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On CNBC-TV18's show Super Six, market gurus Vishal Malkan, Gaurav Ratnaparkhi 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.Vishal Malkan of malkansview.com My first pick is Reliance Infrastructure. It has broken above the resistance of Rs 370 with good volumes on daily charts. Momentum has entered into bullish zone hence I recommend a buy with a stoploss of Rs 375 for target of Rs 399. My second pick is Ashok Leyland. It has broken above the resistance of Rs 95. Weekly charts have gone into bullish zone, hence I recommend a buy with a stoploss of Rs 95 for targets of Rs 102. cGaurav Ratnaparkhi of SharekhanI have a buy call on Voltas. Daily chart of Voltas shows three wave correction after a five wave rise. In terms of price pattern, the correction has formed a bullish flag pattern which has broken out on the upside in the last session. The daily momentum indicator has nicely taken support at the 9 period moving average, so I have a buy call with stoploss at Rs 275 and target at Rs 300. Indian Oil Corporation (IOC) has formed a short-term base near its crucial daily and weekly moving averages and from there the stock has started moving higher. The daily momentum indicators are in favour of bulls. Even the daily Bollinger bands have started expansion after the significant contraction. From trading perspective stoploss can be placed at Rs 398 and target will be Rs 430.Ashish Kyal of wavesstrategy.comFirst pick will be Kajaria Ceramics. This stock is trading near the lifetime highs and the 52 weeks high. It has shown a very strong momentum over past one week. It has showed a very strong positive weekly close as well. So, this is definitely a buy with a stoploss of Rs 840 on downside and target of Rs 940 can be expected in this stock.The next pick is going to be Crompton Greaves. This stock has been moving in a triangular pattern and in previous trading session it showed a very strong breakout, out of that pattern. So, this is a buy and it is moving in an upward sloping channel. One can buy Crompton Greaves with a stoploss of Rs 179 on downside and the target can be expected at around Rs 204 on upside.

first published: Oct 19, 2015 09:09 am

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