Buy Tech Mahindra, Mahindra Satyam, Sintex: Nooresh Merani

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

I maintain bullish stance on Tech Mahindra and the stock has given breakout above Rs 975-980 levels. We can expect the stock to head towards Rs 1,020 in the next couple of sessions. Overall in the longer term we are looking towards a target price of Rs 1,500 and this could be a good time for investors to accumulate the stock. A trading stop loss to be placed at Rs 965 and an intraday target price of Rs 1,020.
I have a buy call on Mahindra Satyam. The stock has given a huge long-term breakout above Rs 100-110 zone. That has become a support band and one can keep a stop loss at Rs 110 for the short-term and a target price of Rs 118 in the day. A longer term target price for the stock would be Rs 150. This is a good time to accumulate the stock with medium to longer view. Jain Irrigation Systems gave a flag breakout above Rs 70 but could not sustain. At current levels, it remains a good buy with a target price of Rs 72 in the day and a medium-term target at Rs 80. One can keep a stop loss at Rs 66 for this trade.
I have a buy call on Sintex Industries. The stock has been underperformer for the last two years; very recently it has a lot of bottoms in the band of Rs 50, which was broken and the stock has again come back to similar levels. This indicates the stock has given a false breakdown on longer term charts, so one can accumulate the stock at current levels with limited downsides. One can even expect a target price of Rs 65 in the short to medium-term. An intraday target price for the stock would be Rs 52 and a stop loss at Rs 47.