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n CNBC-TV18's show Super Six, market gurus Shardul Kulkarni of Angel Broking, Rajesh Jain of Religare Securities and Gaurav Ratnaparkhi of Sharekhan, 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.
Shardul Kulkarni, Angel Broking
The fist stock that we will recommend is a buy call with regards to Shriram Transport Finance . The chart structure indicates a high probability of a downward sloping trendline breakout and the momentum oscillators are positively poised. Going forward, we recommend buying Shriram Transport Finance with a stop loss of Rs 620 for a target of Rs 685 over the next four-six trading sessions.
Second stock that we will recommend is a sell call with regards to Bata India . The chart structure shows there is a high probability for upward sloping trendline breakdown in the days to come. Going forward, we recommend selling the Bata August futures contract with a stop loss of Rs 915 for a target of Rs 840 over the next four-six sessions.
Rajesh Jain, Religare Securities
Dr Reddys Laboratories after taking a good rally four days back has been correcting for last three trading sessions. One can buy the stock at its current price keeping a closing stop loss of Rs 2,150 for a target of Rs 2,350.
Just as Bank Nifty is taking support near 10,000 levels, ICICI Bank is also taking support near Rs 900 levels. One can buy ICICI Bank near Rs 895 levels keeping a closing stop loss of Rs 890 for higher target of Rs 925.
Gaurav Ratnaparkhi, Sharekhan
Shriram Transport Finance has been falling since last nine consecutive weeks. However, the stock seems to have created a short-term base for itself. On the daily chart it has formed an ending diagonal pattern which would mark end of the multi-week fall and the stock is about to breakout on the upside from the bullish pattern. The daily momentum indicator has given a fresh buy signal. So the stock has a significant upside potentially from current level. Stop loss can be placed at Rs 620.70 and target will be Rs 699 and the timeframe will be 2-3 days.
IDFC has been falling since last several months. However, the internal structure shows that the fall might be complete at least from short-term perspective. The short-term momentum indicators have been pushed into the oversold territory and they need to recover from there. Also in the last session, the stock has formed a bullish outside bar on the daily chart, which shows that the bulls are taking the charge over. Even the risk reward ratio is very good to initiate fresh long positions. Stop loss can be placed at Rs 101.90 and target will be Rs 114 and again the time frame will be 2-3 days.
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Shardul Kulkarni, Angel Broking
The fist stock that we will recommend is a buy call with regards to Shriram Transport Finance . The chart structure indicates a high probability of a downward sloping trendline breakout and the momentum oscillators are positively poised. Going forward, we recommend buying Shriram Transport Finance with a stop loss of Rs 620 for a target of Rs 685 over the next four-six trading sessions.
Second stock that we will recommend is a sell call with regards to Bata India . The chart structure shows there is a high probability for upward sloping trendline breakdown in the days to come. Going forward, we recommend selling the Bata August futures contract with a stop loss of Rs 915 for a target of Rs 840 over the next four-six sessions.
Dr Reddys Laboratories after taking a good rally four days back has been correcting for last three trading sessions. One can buy the stock at its current price keeping a closing stop loss of Rs 2,150 for a target of Rs 2,350.
Just as Bank Nifty is taking support near 10,000 levels, ICICI Bank is also taking support near Rs 900 levels. One can buy ICICI Bank near Rs 895 levels keeping a closing stop loss of Rs 890 for higher target of Rs 925.
Gaurav Ratnaparkhi, Sharekhan
Shriram Transport Finance has been falling since last nine consecutive weeks. However, the stock seems to have created a short-term base for itself. On the daily chart it has formed an ending diagonal pattern which would mark end of the multi-week fall and the stock is about to breakout on the upside from the bullish pattern. The daily momentum indicator has given a fresh buy signal. So the stock has a significant upside potentially from current level. Stop loss can be placed at Rs 620.70 and target will be Rs 699 and the timeframe will be 2-3 days.
IDFC has been falling since last several months. However, the internal structure shows that the fall might be complete at least from short-term perspective. The short-term momentum indicators have been pushed into the oversold territory and they need to recover from there. Also in the last session, the stock has formed a bullish outside bar on the daily chart, which shows that the bulls are taking the charge over. Even the risk reward ratio is very good to initiate fresh long positions. Stop loss can be placed at Rs 101.90 and target will be Rs 114 and again the time frame will be 2-3 days.
SOURCE
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