Buy Sterlite Tech, Dabur, Dishman Pharma: Jay Thakkar

In CNBC-TV18's popular show Bull's Eye, Jay Thakkar of Sharekhan shares trading strategy of the day.Sterlite Technologies has given a good breakout from a sideways consolidating pattern following which we have seen a good run up in the stock. It will provide breakout again on the upside with the momentum indictor giving good buy call on the daily as well as hourly charts. The probability of this breakout on the upside is quite likely. Hence one can buy this stock for a target of Rs 88.20 with a stop loss at Rs 81.20.Dabur India has been consolidating in a triangular pattern which is in its wave sea. I think this breakout should happen on the upside to achieve the target of wave sea. In this wave sea it has a target of Rs 289.50 where as a stop loss can be placed at Rs 273.70. Dishman Pharmaceuticals and Chemicals has provided a classic breakout from a downwards sloping parallel channel. Going forward, we will again see higher-tops and higher-bottom formation in the stock. The momentum indicators on daily as well as the early charts are well into the buy mode. It is trading well above its short-term as well as medium-term averages. So, based on all these technical evidences, I think that Dishman Pharma is inching towards the levels of Rs 278. One can place a stop loss at Rs 257.90 for this buy call. JK Tyre and Industries' previous move was an impulsive move for which we have seen some retracement in a very corrective form. In yesterday’s trading session, we have seen the stock forming a good bullish candle and with that I think it has also given a good buy crossover in its momentum indicator. So, the retracement of its previous impulsive move is done. It is quite in a favour of the bulls. One can buy this for a target of Rs 112.70 with a stop loss of Rs 102.60.