Buy Rallis India, GMR Infra, Dena Bank: Mirani

In CNBC-TV18's popular show Bull's Eye, Nooresh Mirani, AMSEC Research shares trading strategy of the day.

Buy Rallis India. The stock has seen a good correction over the past few months and has been making quite a few bottoms around Rs 110 levels, at the same time it has been bouncing back finding a resistance around Rs 125-130. I expect the stock to touch Rs 130 in the short-term and once that is taken off we could be looking towards Rs 160. So at current levels it is a good investment call as well. One can keep a trading stop loss at Rs 115 for this trade.
Buy GMR Infra. In spite of all the bad news the stock does not break below Rs 17-18 levels. It has created a strong base and has seen a good move over the last few days with very good volumes. This indicates the stock can breakout over the next few days and that could take it towards Rs 24 and maybe even higher. So one can keep a stop loss at Rs 21 and buy the stock on dips with a quick target price of Rs 24.
Buy Dena Bank. The stock has a lot of support around Rs 85-88 band over the last one year. The stock does bounce back from this zone and goes back to Rs 100 levels. We can expect a short bounce towards Rs 95. One can accumulate the stock at Rs 88 levels with a target price of Rs 95 in the extreme short-term with a stop loss at Rs 86.
Buy McLeod Russel. The stock has been in a long-term uptrend and it has just tested its 200-day moving average around Rs 330. We can expect the stock to bounce back towards Rs 355 in the short-term. One can keep a stop loss at Rs 330 for this trade.