Buy Future Retail, Punj Lloyd, Crompton Greaves: Merani

In CNBC-TV18's popular show Bull's Eye, Nooresh Merani of AMSEC Research shares his trading strategies for the day.

One may buy Future Retail. The stock was in a very small band for the last few days and it has given a triangle breakout which has a target price of Rs 85 in the short-term and even towards Rs 100. One can buy the stock at current levels keeping a stoploss at Rs 73 and a target of Rs 85. One may buy Punj Lloyd. The stock has given an inverted head and shoulder breakout which has a target implication of Rs 30 and Rs 34 also in the short-term. One can buy the stock at current levels with a stop loss at Rs 26. One may buy Crompton Greaves. The stock has been range bound for last two-three months. Yesterday the stock has given a breakout above recent highs at Rs 95. One can buy the stock with an intraday target of Rs 99 and a stoploss at Rs 93. A positional target would be closer to Rs 110. One may buy Lupin. This is a stock in a long uptrend and continues to make higher tops. Yesterday the stock has crossed into a new high which indicates there could be momentum for another couple of sessions. One can buy the stock at current levels with a stoploss at Rs 905.