Buy MT Educare, Bata, Tech Mahindra: Nooresh Merani

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

Buy MT Educare. We expect the stock to breakout above Rs 304 level. That would be a flag breakout which has a target implication of Rs 120 in short-term. My intraday target price for the stock would be Rs 108 and stop loss at Rs 96.
Buy Bata India. The stock has given a flag breakout above Rs 830 level. The stock has closed well with decent volume which indicates the stock may head up to Rs 900 in the short to medium term. One can buy the stock at current levels keeping a stop loss at Rs 815 and target of Rs 850.
Buy Tech Mahindra. The stock has been making higher tops and higher bottoms on a longer term chart. In the short-term it has made a good base around Rs 900-930 zone. Last two weeks high around Rs 980 has been crossed which indicates the stock may catch momentum over the next few sessions. This could be a quick trade for the next one-two sessions with a target of Rs 1020 and stop loss at Rs 965. I continue to maintain the stance that the stock is looking very bullish on a longer term chart which has a target implication of Rs 1400-1600 levels in the long term. So it could be a good play even for an investor at current levels.
Buy Mahindra Satyam. The stock has made a good base around Rs 110 levels and the stock is headed up towards Rs 118 and 130 plus in the medium term. The longer term chart pattern gave a major breakout around Rs 100-105 levels which indicates it is a good time to enter for the investor with a long-term view. One can keep an intraday stop loss at Rs 110 for this trade.