Buy TV18 Broadcast, Canara Bank, Dishman Pharma: D Cunha

In CNBC-TV18's popular show Bull's Eye, Lancelot D Cunha of ITI Wealth Management shares his trading strategies for the day.

One can buy Century Textiles with a target price of Rs 207.90. It is going to be the beneficiary for major restructuring that they are undergoing and will see significant reduction in interest cost. The stock has corrected significantly from its highs and is now traded in an attractive level. Inspite of the fall in the market this stock has seen some strength and I expect it to continue with the positive momentum to hit its target price of Rs 207.90.
One can buy TV18 Broadcast. The stock has been showing significant strength with buying interest despite the market falling in the last two-three days. This is a sign that there is a period of consolidation and buying happening at these levels. I see that with a positive momentum the stock could actually move upwards to hit its target price of Rs 19.80.
One can buy Canara Bank with a target price of Rs 249.50. Canara Bank has fallen significantly from high levels along with all other PSU banks. The bank came out with very good numbers on a quarterly basis and has also seen significant improvement in its NPA levels. The negatives have been probably overdone and we should see some amount of bounce back from this stock and could move upwards to hit its target price of Rs 249.50.
One can buy Dishman Pharma. It has been very steady and over the last two trading sessions the stock has been moving upwards with large volumes despite the fall in the market. This could be due to accumulation and maybe positive results or positive news being expected. I expect this to continue over the next few trading sessions and the stock should move upwards to hit its target price of Rs 49.90. Disclosure: Moneycontrol.com and Television Eighteen Network are both part of the Network18 Group.