Buy TTK Prestige, VIP Ind; Sell Arvind: Cunha

In CNBC-TV18's popular show Bull's Eye, Lancelot D Cunha, ITI Wealth Management shares trading strategy of the day.
 
Buy TTK Prestige. TTK Prestige came out with good results for third quarter and showed an increased profit which was up Rs 44 crore as compared to Rs 34 crore for the previous corresponding quarter. We have also seen the stock move on increased volumes yesterday. I expect this trend to continue in terms of acquisition from the market for the stock and we expect it to hit its target price of Rs 3,850.
 
Buy VIP Industries with a target price of Rs 88. VIP Industries has technically broken out and is looking at a further upside given the increased volumes that have been noticed on the counter yesterday and in spite of it being a weak day we have seen the stock retain its position. Hence you can now see the stock could move upwards to hit its target price of Rs 88.
 
Sell Arvind Mills with a target price of Rs 96. Arvind Mills had come out with news of its possible tie-up with Jap retailer Uniqlo and based on this news we have seen a selling with large volumes in the stock. This has meant that people who have accumulated this on the base of informed buying have now decided to unwind their positions in the stocks and with further selling we could see the stock hit its target price of Rs 96.