In CNBC-TV18's popular show Bull's Eye, Nooresh Merani of Analyse India shares his trading strategies for the day.
One may buy Sun Pharmaceutical Industries. The stock was declining in a bullish flag pattern for the last few weeks. It has given a breakout above Rs 588 which gives us an initial target of Rs 620 and target of Rs 650-700 in the medium term. One can buy the stock at current levels keeping a stoploss at Rs 575.
One may buy Jyoti Structures. Maintaining a bullish stance on the stock and good breakout seen above Rs 28-28.50, we expect a target of Rs 45 in the medium term. An intraday target price would be placed at Rs 35 and stoploss at Rs 30.
One may buy Praj Industries. The stock has given a triangle breakout yesterday which has a target implication of Rs 55-65 in the short-term. One can buy the stock at current levels with a stoploss at Rs 47 and intraday target of Rs 55.
One may buy Sintex Industries. The stock has given a cup and handle breakout above Rs 35-36 which gives us a target of Rs 50 in medium term. Intraday target would be placed at Rs 40 and stoploss at Rs 35.
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