In CNBC-TV18's popular show Bull's Eye, Akshata Deshmukh of Networth Capital shares her trading strategies for the day.
One can buy Strides Arcolab because we have seen very good accumulation take place last week on back of very strong volumes and the delivery marking has also been high. The stock is on the verge of a breakout, one can place a stoploss at a level of Rs 745.
One can buy Mindtree for a target of Rs 1,088 a stoploss at Rs 1,022. The stock has been correcting since the level of Rs 1,245 and has seen consistent decline since then with heavy build up of short positions. In Friday’s trading session, we have seen a doji candle formation and chances of recovery.
Oriental Bank of Commerce has lot of support around level of Rs 220 which is also the April 2014 lows and is unlikely to breach this level. From Friday’s trading session, where it has witnessed a very strong hammering, we expect it to test levels of Rs 237 whereas Rs 219 is a support level which can be placed as a stoploss.
SKS Microfinance has formed a double bottom support at Rs 280 and is likely to witness a similar pattern like August this year wherein it started its rally from Rs 280 all the way till Rs 348 with the small hurdle at Rs 305. We expect Rs 305 to be the first target level and that might come in a day or two from the current levels of about Rs 292. One can place a stoploss of Rs 286.
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