Buy CESC, Aurobindo Pharma, Reliance Power: 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 CESC. The stock has given a huge inverted head and shoulder breakout which has a target price of Rs 450 in the long-term. It had multiple resistances around Rs 335 to Rs 350, which has been surpassed. This indicates one should head up higher in the short to medium-term. One can expect an intraday target price of Rs 370 and a stop loss at Rs 345.
One can buy Aurobindo Pharma. On the short-term chart it has given a breakout above Rs 191 which gives an immediate target price of Rs 200 in the day. On the longer term charts it is making a huge cup and handle which has a breakout above Rs 205 levels. Therefore, we could be looking at a longer term play in the stock once it starts trading above Rs 205. One can buy the stock at current levels with a target price of Rs 200 in the day and a stop loss at Rs 187.
One can buy KPIT Cummins Infosystems. This is one IT stock which has given nice breakout yesterday out of a flag pattern which has a target implication of Rs 132 and Rs 140 in the short-term. Volumes have picked up yesterday and one can expect some more volumes in the coming days. This could be a good trade for the next one-two weeks with a target price of Rs 132 in the day and a shorter term target price of more than Rs 140. One can keep a stop loss at Rs 118 for this trade.
One can buy Reliance Power. This is a momentum trade given the fact that over the last two weeks it was having a lot of resistance above Rs 70 levels. This is a small flag breakout which has a target price of Rs 75 and Rs 80 in the short-term. One can buy the stock at the moment trade with an intraday target price of Rs 75 and a stop loss at Rs 69.