Buy UPL, NIIT, Texmaco Rail, Zicom: Nooresh Merani

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

One can buy UPL. The stock has made a good base around Rs 325-330 level and has given a triangular breakout above Rs 355-360. We expect a target price of Rs 390 in the short-term and a longer-term target price of Rs 450 to Rs 500. A trading stoploss would be placed at Rs 345.

One can buy NIIT. This is a pre-emptive buy call wherein we expect the stock to give a triangular breakout above Rs 54-55 levels over the next few weeks. In dips to around Rs 51-52, the stock looks as an interesting risk reward buying opportunity with a stoploss at Rs 48 and a short-term target price of Rs 55 and a longer-term target price of Rs 70 or more.

One can buy Texmaco Rail. The stock was facing lot of resistance around Rs 95-97 levels and has given a strong breakout in the last few days. It has been holding nicely over the last two-three sessions. We expect a short-term target price of Rs 120 and have a longer-term price target of Rs 140-160. One can buy the stock at current level, keeping a stoploss at Rs 150.