Buy KPIT, Kalpataru Power; sell Adani Enter: Lancelot Cunha

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

My first call is a buy call on KPIT Cummins. Based on the results that we have seen from Infosys and the guidance that they have given the midcap IT companies could also move upwards and I believe KPIT Cummins has potential to be re-rated upwards. It came out with very good results in the last quarter and I expect that with some buying momentum that we have seen in IT sector we could see this stock hitting its target price of Rs 118.50.

My second call is a buy call on Kalpataru Power. It has bid for several large orders and now with the momentum of orders moving up we will see that orders coming out, so even from a medium to long-term perspective this stock looks good and attractive. However, on the basis of the buying that I have seen in this stock I would feel that it could move up to its target price of Rs 103.

My third call is a sell call on Adani Enterprises. It has looked weak and it has broken down technically which is a weak sign and there could be an increased momentum in selling specially if there is an element of profit booking. So one could see this stock actually move lower and hit its target price of Rs 255.50.