Buy United Phos, Aditya Birla Nuvo; sell Titan Ind: Merani

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

One may sell Titan Industries. The stock is making lower tops over the last few months. Recently the stock made a top around Rs 275-280 and has been retracing back. We expect the down trend to continue for the next few sessions. We can expect an intraday target price of Rs 250 keeping a stop loss at Rs 267 for this trade. One may buy United Phosphorous. The stock has been making a double bottom around Rs 120 to Rs 125 and goes back towards Rs 150 levels in the short term. This is the swing trade wherein we expect the stock to touch Rs 150 in the short-term. My intraday target price for the stock would be Rs 135 and a stop loss at Rs 125. One can buy Ceat. The stock is making a huge rounding bottom cum cup and handle pattern which has a breakout around Rs 125 levels on the longer term chart. The stock has been sustaining well in this current midcap mayhem. We expect the stock to outperform over the next 3-4 months. One can buy the stock at current levels keeping a stop loss at Rs 112 and an intraday target price of Rs 130. One may buy Aditya Birla Nuvo with a target price of Rs 1,170 in the day and a stop loss at Rs 1,060. The stock was in the range of Rs 700 to Rs 1050 for the last 2-3 years. The stock has given a breakout and is retesting the zones of Rs 1,100. We expect the stock to reverse from here and head up towards Rs 1,170 in the day. A longer term target price for the stock could be Rs 1,400 to Rs 1,500 levels. One can keep a stop loss at Rs 1,060 for this trade.