Buy Uttam Galva, Omnitech Info, Eros Intl: Cunha

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

Buy Uttam Galva. This stock has seen some informed buying and we have seen the stock moving up on good volumes. There is also some news saying that there may be a preferential allotment of shares and in the light of that we have seen that the stock is actually moving up. There could be further buying which could take it to its target price of Rs 73. Buy Omnitech Infosolutions with a target of Rs 150 and stop loss of Rs 134. Buy Eros International with a target of Rs 179 and stop loss of Rs 160. It has been one of the major beneficiaries of the media boom that we have been seeing. A lot of its releases have been doing very well and its recent movies that are likely to be released in the festive season should see the performance of the company improving substantially. And we see it moving to its target price of Rs 179. Short Pantaloon with a target of Rs 200 and stop loss of Rs 217. The recent run up in the stock based on the FDI increase in limit has been a bit overdone in the sense that the stock could correct from these levels because it will take at least 6-8 months for the fundamentals to really start catching up and to improve because of this measure. Pantaloon still will see a difficult season going forward on its operating side and hence with this downward momentum now on you could see it hitting its target price of Rs 200. Disclosure: I don't have holdings in any stocks discussed but may have recommended them to clients.