Buy Aurobindo Pharma, Karnataka Bank, KSK Energy: Cunha

In CNBC-TV18's popular show Bull's Eye, Lancelot D Cunha of ITI Wealth Management shares trading strategy of the day.

Buy Aurobindo Pharma with a target price of Rs 155. Aurobindo has recently been awarded permissions by USFDA for three drugs which will be very positive for the company. So in the medium-term you could see better sales and better realization which could see the company moving into a new trading zone. It has also broken a critical level and I think it should continue to move up with the momentum and hit the target price of Rs 155. Buy Karnataka Bank. Karnataka Bank had been beaten down substantially below its book value and the stock was really languishing at lows, however good performance in the first quarter coupled with expected good performance in the second quarter has seen the stock move up on large volumes with good buying interest. I see the trend improving and since it has broken a very critical technical level should move to its target price of Rs 121. Buy KSK Energy with a target price of Rs 76. KSK Energy has been moving up on good volumes based on some informed buying and coupled with reforms in the power sector we could see the momentum continue and it could hit its target price of Rs 76. Sell Adani Enterprises. Adani Enterprises had hit a high and has since been correcting on volumes. Given the current situation you are seeing some amount of selling come back into the stock and we could see it move lower down to hit its target price of Rs 215.