Buy Sun TV, Eros, Idea Cellular, Punj Lloyd: Mirani

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

One may buy call Sun TV Network. The stock has given a triangular breakout which has a target implication of Rs 445 in the day and a medium-term price of Rs 490. One can buy the stock at current levels keeping a closing stoploss at Rs 420 and an intraday target price of Rs 445. One may buy Eros International Media. The stock has given a flag breakout and is sustaining above Rs 145 levels, which indicates that the stock may head up towards Rs 155 in the next few sessions. One can buy the stock at current levels and on dips with a stoploss at Rs 138 and a target price of Rs 155. One may buy Idea Cellular. The stock is in a strong uptrend and continues to make higher top. This has been hitting 52 week high for the last few months. Given the new 52 week high yesterday; we expect it to be a momentum trade for the day. So, this would be an intraday call with a target price of Rs 187 and a stoploss at Rs 179.

One can buy Punj Lloyd. The stock has given an inverted head and shoulder's breakout which has a target implication of Rs 29 and Rs 34 in the short-term. One can buy the stock at current levels keeping a stoploss at Rs 26 and an intraday target price of Rs 29.