Buy Tata Coffee, Colgate, Mphasis: Merani

Buy Tata Coffee . If you look at the stock the stock gave a major breakout around Rs 850-800. Post that the stock made a good move to around Rs 950-1,000 levels and has been consolidating for the last few weeks. Yesterday the stock made an attempt to make new 52-week highs which indicates the stock may head up higher up to even Rs 1,100-1,200 in the medium-term. My intraday target price for the stock would be Rs 1,010 and a stop loss at Rs 955.

Buy Colgate . The stock has underperformed the FMCG segment and now it is making a triangle formation which has a breakout point around Rs 1,180-1,190. For the last two days the stock has crossed those levels and is waiting to move up higher. I would expect an intraday target price of Rs 1,220 and a medium-term target price of Rs 1,300. A stop loss to be placed at Rs 1,150 for this trade.

Buy Mphasis with a target price of Rs 425 in the short-term and a target price of Rs 450-500 in the medium-term. The stock has made a cup and handle pattern which has a breakout around Rs 405. For the last two to three months the stock has seen exceptional volumes compared to the previous six months. This indicates there is a strong accumulation pattern going on. Sustaining above Rs 405-410 for three to four sessions opens up a big move towards Rs 450-500.

Buy Bata India . The stock is into momentum for the last many months as well as it is a good buy whenever it makes a new high. Yesterday the stock has tried closing above its previous highs which indicates there could be further momentum for the next two to three sessions. So this would be a quick trade for the next two to three sessions with a target price of Rs 945 in the day and a stop loss at Rs 900.