Buy Cairn India, Voltas, India Cement: Merani

Buy Cairn India . The stock has given a breakout above its resistance of Rs 335-340 which was a problem zone for the last 2-3 attempts. The stock has been in a range of Rs 320-340. So we could expect the stock to move around Rs 20 from current levels. So a short term target would be Rs 360 plus and my intraday target would be Rs 350.

Buy Voltas with a intraday target of Rs 119, short-term target of Rs 125 and stop loss of Rs 113. Yesterday the stock has given a breakout from a triangle pattern which has an implication of minimum Rs 120 levels or even higher. The stock has moved up well yesterday with good volumes even in a falling market. This indicates the stock has a lot of strength.

Buy India Cement . The stock has given a breakout above Rs 90. We can expect the stock to touch Rs 95 in the day and a target price of Rs 100 in the short-term. Given the fact that the stock is a highly volatile one, we may keep a stop loss at Rs 87.

Buy Pidilite Industries . The stock has given a breakout out of a flag pattern and the volumes have picked up over the last few sessions. Implication would be much higher in the medium to long-term which we could expect around Rs 240.

Disclosure: I don't have holdings in any stocks discussed but may have recommended them to clients.