Buy Pidilite, Glenmark, Indiabulls Real, Voltas: Mirani

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

One can buy Pidilite Industries. The stock remains in a long term uptrend with higher tops and higher bottoms. After making the bottoms around Rs 260-265 levels the stock has given a good move yesterday, with a bit of volumes picking up. We can expect the stock to head up to Rs 290 in the short term and a longer term target price of Rs 350. One can keep a stop loss of Rs 265 for this trade. One can buy Glenmark Pharma which is into a long term uptrend and is about to cross its recent three months high. Once it starts sustaining above Rs 610-620 we could expect the stock to adopt towards Rs 650 as well as a medium term target of Rs 700-750. One can buy the stock at current levels keeping a stop loss at Rs 580 and an intraday target price of Rs 650. One can buy Indiabulls Real Estate. The stock made a lot of bottoms around Rs 60-62 levels on short-term charts. Right now it has given a trend line breakout with huge volumes. Given the fact that this is a high beta counter this could be a trade for the next two-three sessions with a strict stop loss at Rs 70 and intraday target price of Rs 75. This is more of a momentum pick for the few sessions. One can buy Voltas. The stock has been in a downtrend for long time now. But in the extreme short term charts it has made lot of bottoms around Rs 80 to Rs 78 zones. The stock has a resistance around Rs 86 levels once which is crossed, we can expect a target price of Rs 95 in the short term. One can buy the stock at current levels with a stop loss of Rs 83 and a target price of Rs 88 in the day.