Buy CESC, Bata, Tata Steel, Syndicate Bank: Manav Chopra

In CNBC-TV18's popular show Bull's Eye, Manav Chopra of Nirmal Bang shares his trading strategies for the day.

One may buy CESC. The stock has observed a sharp decline from its recent highs and on Friday it observed sharp reversal candle. The breakout in price was accompanied by above average volumes and the prices have also managed to sustain and close above its short-term moving averages. There is also a positive crossover in the momentum oscillators which is suggesting that the stock is likely to continue and the prices would test its recent highs.

One may buy Bata India. The stock has been in a good uptrend and the prices have declined and tested its long-term averages. Since last couple of trading sessions there has been a good volume built-up. The prices have also managed to breach its falling trend line drawn from its recent highs. The overall stock has confirmed a short-term trend reversal on the intraday charts and going forward we expect a short-term rise in the stock for an upside target of Rs 975. One can maintain a stoploss of Rs 940.

One may buy call Tata Steel. The stock has formed a strong reversal pattern at 38.2 percent retracement level and has likely completed its wave four decline. We expect the stock to see a rise in the near term perspective and it seems that wave five is underway. Going forward the momentum indicators has also confirmed a bullish cross over and we expect the stock to see a rise in the near term. We expect an upside target close to Rs 370. One can maintain a buy on dips approach.