Sell OBC, Sun TV Network; buy Arvind, Tata Motors: Gandhi

In CNBC-TV18's popular show Bull's Eye, Rakesh Gandhi, technical analyst  and trader shares his trading strategies for the day.

One may sell Oriental Bank of Commerce Futures. A stunning rally was seen in banking stocks in last few weeks particularly in Oriental Bank of Commerce. The stock has seen a sharp upward move and closed at lowest point of the week indicating that the uptrend has fizzled out for a while and hence a sell call for a target of Rs 175.25 with a stoploss of Rs 186.75.
One may sell Sun TV Network. On Friday there was a sharp decline in the stock and there was a short-term moving average crossover on an hourly chart indicating that downward momentum has picked up and hence a sell call for a target of Rs 401 with a stoploss of Rs 422.
One may buy Arvind. After a span of 24 months the stock has seen a breakout from a large consolidation pattern. The stock is likely to see a sharp upward momentum in coming weeks but for the day my target is Rs 119.75 with a stoploss of Rs 112.40.
One may buy Tata Motors. Since last month the stock has been consolidating between Rs 370 and Rs 396. On the weekend it has come out with a better expected results and it has closed in a negative terrain for last week. If the stock manages to crossover Rs 400 then there could a sharp upward move and hence a buy call for a target of Rs 415 with a stoploss of Rs 377.