Sell CESC, JSPL; buy Exide Ind, ENIL: Cunha

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

Buy Exide Industries; the stock had hit a low of Rs 129. Given the fact the prices of nickel and lead have been steadily coming down, it is positive for the company. It has recently expanded its production capacity to take on the original equipment manufacturers (OEM) so that is positive. I feel the buying momentum should continue, the stock has see good volume and it should hit its target price of Rs 148. Buy Entertainment Network India Limited (ENIL). This stock had seen substantial correction. From these levels of Rs 220 there is some accumulation happening. The outlook for the company is good on a medium to long-term basis. It is one of the few cash rich companies with zero debt. This stock has seen some buying in the last few sessions and it should move to its target price of Rs 226. Sell CESC, It has been falling for the last few sessions and the downward momentum is likely to take the stock to Rs 292. Sell Jindal Steel and Power, the stock has been in news because of the negative developments that have happened in the sector. The sector looks weak both on the steel pricing side as well as availability of coal for the sector. We are still seeing the stock sell off on large volumes and I feel the selling is likely to continue and it should move down towards its target price of Rs 335.