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Top chart picks for December 28

Gaurav Bissa of LKP Securities is of the view that one may sell Tech Mahindra with a target of Rs 491.

December 28, 2015 / 10:01 IST
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On CNBC-TV18's show Super Six, market gurus Hemen Kapadia and Gaurav Bissa, 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.Hemen Kapadia of KRChoksey SecuritiesI have a buy call on Asian Paints. The stock has reflected a near-term strength by giving an upward key reversal on the daily chart. Mechanical indicators are supporting the move. In fact, the mechanical indicators on intraday chart are supporting the move, have signalled a buy indicating the stock intention to appreciate further from here. One can buy it at its closing of around Rs 882, stoploss of Rs 877 and a target of Rs 892.I have a buy call on IndusInd Bank. It has reflected near-term strength by almost giving an upward buy reversal on the daily chart. Mechanical indicators are in sync, are supporting the move, even the intraday mechanical indicators have signalled a buy, indicating the stock intention to appreciate further from here. One can buy the stock at its closing of around Rs 946, stoploss of Rs 941 and target of Rs 956.Gaurav Bissa of LKP SecuritiesMy first recommendation today is a buy on CESC. Small-term short-term breakout it has seen on daily charts on a small time period and that too with incremental volumes trading above the short-term averages. RSI deeply oversold just about taking higher, same goes from momentum indicator, one of the lowest, it is now trying to inch higher. All in all it augurs well for the stock. I recommend going long in the stock for trading targets of Rs 550, one can have a stoploss at Rs 512.My second recommendation today is sell on Tech Mahindra. Among the IT space, this particular name has been the most vulnerable one. It has been forming good amount of resistance at Rs 525-530 kind of levels. I would recommend going short for a trading target of Rs 491, can have a stoploss at Rs 530.

first published: Dec 28, 2015 08:46 am

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