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Buy Bata, Tata Global Beverage, Voltas, NMDC: Mirani

Nooresh Mirani of AMSEC Research recommends buying Voltas with a target of Rs 98 and NMDC with a target of Rs 140.

November 26, 2013 / 13:15 IST
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In CNBC-TV18's popular show Bull's Eye, Nooresh Mirani of AMSEC Research shares his trading strategies for the day.

One may buy Bata India. The stock has given a cup and handle breakout above Rs 980 to Rs 1020 zone which gives us a medium to longer term target price of Rs 1300 to Rs 1400. One can buy the stock with an intraday target of Rs 1080 and a stoploss at Rs 1020.

One may buy Tata Global Beverage. The stock is making higher tops and higher bottoms and the last trendline support comes around Rs 135-140 zone. We can expect the stock to reverse from here and go back to Rs 175-180 in the medium term. One can buy the stock with a target of Rs 148 and a stoploss at Rs 138.

One may buy Voltas with a target of Rs 98 and a stop loss at Rs 90. The stock is on the verge of a flag breakout which gives us a target price of Rs 105-110 in the short-term. One can keep a stop loss of Rs 90 for this trade.

One may buy NMDC. The stock saw a good move from Rs 100 to 140 plus levels and is now consolidating and has a lot of support around Rs 128-130 which is closer towards moving averages. We can expect the stock to bounce back from here to Rs 140 levels. My intraday target for the stock would be Rs 140 and a stoploss at Rs 128.

first published: Nov 26, 2013 01:15 pm

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