Buy Eros, Tech Mahindra, Mahindra Satyam: Merani

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

Buy Eros International Media. The stock has been consolidating in the band of Rs 170 for the last few weeks. It had multiple tops around Rs 175-176. The stock has crossed above those levels with little bit of volumes. We expect the stock to go back towards Rs 190-200 in the short-term. The target price would be Rs 190 and a stop loss at Rs 170. Buy Tech Mahindra. The stock has seen a good correction but it is in a long-term uptrend and it is bouncing back from those levels. We can expect a bounce towards Rs 990 in the extreme short-term and a longer-term target would be Rs 1200 plus. One can buy the stock at current levels with a medium to long-term view as well. A trading stop loss would be at Rs 940 and an intraday target at Rs 990. Buy Mahindra Satyam. This stock has finally crossed above Rs 100-110 levels which was a major resistance and moved up. Now it has retested similar support zones and is bouncing back. The long-term target would be around Rs 140 and intraday target would be around Rs 118 and a stop loss at Rs 106. The stock is a good bet for long-term as well and in the near-term we can expect Rs 118. Buy Rallis India - carrying forward my call from yesterday the stock has closed well above Rs 130 levels which is a break-out and expect a quick move towards Rs 145. The longer-term target would be Rs 160 plus, a trading stop loss at Rs 128.