Buy Aditya Birla Nuvo, RCom, Raymond: Nooresh Merani

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

My first stock call is a buy on Aditya Birla Nuvo. The stock has given a small flag breakout above Rs 990 levels which gives a target price of Rs 1060-1100 in the short term. If we look at a two to three year chart the stock has been in a range of Rs 700-1050 on the higher side. So, we can expect further moves over the next few months, will give a major breakout which could head up to Rs 1400 in the medium to long term. So any dips to Rs 950-990 on a medium term timescale would be a great opportunity for investors.
Second stock call is a buy on Reliance Communications. The stock has made two higher bottoms in the last few months. The recent top of around Rs 64 has been crossed which gives us a minimum target price of Rs 72 and a target price of Rs 80 in the short term. One can buy the stock at current levels keeping a stop loss at Rs 64 and an intraday target price of Rs 72. We can even look towards Rs 80 in extreme short term. Yesterday the stock has good volumes with the breakout that indicates the target price could be achieved much faster than expected.
My third stock call is a buy on Raymond. If we look at the last six months view of the stock every time the stock goes to Rs 420-430 levels it collapses back to Rs 350. This would be almost the third to fourth attempt at those levels. In the short term it has made some bottoms around Rs 395 and we may see a retest towards Rs 425 and once that is taken off we could be headed towards Rs 500-550 level in the medium term. So, one can accumulate the stock at current levels and a short term trader might keep a stop loss on closing basis below Rs 400. Look towards an intraday target price of Rs 425 and a medium target price of Rs 500-550.
My last stock call is a buy on Hexaware Technologies. The stock gave a false breakout above crossing Rs 130 few months back. After that the stock has given a sharp downside move all the way to sub Rs 100 levels. The stock is highly oversold in the short term. We can expect a bounce back to recent tops of around Rs 114 and once that is taken off it could be a trend change. Yesterday the volumes were good indicating there could be some momentum over the next couple of sessions. So, this could be a trade for the next two to three sessions with a target price of Rs 112 and an upper target price of even Rs 120. The stop loss would be placed around Rs 102 for this trade.