In CNBC-TV18's popular show Bull's Eye, Nooresh Mirani of Analyse India shares his trading strategies for the day.
One can buy Zee Entertainment Enterprises. After making good base around Rs 265-270 the stock has started bouncing back. We expect it to test to a level of Rs 300-310 which has been a major top zone for the last few months. At current levels one can buy with a short-term target price of Rs 290 and a stoploss at Rs 270.
One can buy Aditya Birla Nuvo. After consolidating in a range of Rs 1,000-1,300 for many months it gave a breakout and has a recent top around Rs 1,500 levels. Once that is crossed, we could look towards target price of Rs 1,700-1,800 in the stock. This is a preemption of a breakout where we expect the stock to breakout over the next few days. One can buy the stock at current levels with a stoploss at Rs 1,450 and a quick target price of Rs 1,700.
One can buy Oil India. The stock has given a triangle breakout above Rs 580-590 levels. This gives us an immediate target price of Rs 630-650 in the short-term and once that is taken off, we could be looking at a multi top breakout above Rs 630 post the listing. We expect a longer term target price of Rs 800 in this stock. One can buy the stock at current levels with a quick target price of Rs 630 and a stoploss at Rs 580.
One can buy Gateway Distriparks. The stock has been in a range of 20 to 30 points for the last many weeks. We expect it to give a breakout above Rs 250 over the next few days. So, it is a risk reward entry point at current levels with a stoploss at Rs 235 and target price of Rs 270 in the short-term and a target price closer to Rs 320-350 in the long-term.
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