Buy JSW Energy, Adani Power, Reliance Capital, HDIL: Malkan

In CNBC-TV18's popular show Bull's Eye, Vishal Malkan of malkansview.com shares his trading strategies for the day.

One may buy JSW Energy. It has made a double bottom at the levels of Rs 34-35 from which it is bouncing again since the last couple of weeks. It formed bullish candlestick patterns on daily charts and hourly momentum is bullish. My recommendation for today is a buy with a stop loss of Rs 38.50 for targets of Rs 42. One may buy Adani Power. Power stocks have been in the lime light in last couple of days on the upside. Adani Power has formed a bullish pattern on daily as well as weekly charts and showing some momentum on volumes as well as price. I recommend a buy with a stop loss of Rs 35 and target of Rs 39. One may buy Reliance Capital. It has seen very important support at Rs 300 from which it is bouncing since last three-four months and consistently holding that level. Yesterday it showed a bullish candlestick pattern on daily as well as weekly chart and volumes have been rising. I expect it to continue in the next couple of days. For today I have a stop loss of Rs 312 for target of Rs 327. One may buy Housing Development and Infrastructure (HDIL). Realty stocks have been showing some momentum in last couple of days with good volumes and it is purely a trading call. For today I have a buy with a stop loss of Rs 31 and target of Rs 35.