Akshata Deshmukh of Networth Capital recommends buying Coal India with a target of Rs 395 and Escorts with a target of Rs 142.
In CNBC-TV18's popular show Bull's Eye, Akshata Deshmukh of Networth Capital shares her trading strategies for the day.
One may buy Adani Power because the entire power sector is buzzing in trade; it has been in strong buying momentum. The daily chart of Adani Power shows a good cup and handle formation. We think the stock is headed much higher from current levels. There is at least 10 percent upside potential within the short-term. Hence, there is a target of Rs 69.50 in it.
KEC international has been facing resistance at Rs 109-110 for the last three days but we expect this level to be breached on back of very high price volume actions. Therefore, we maintain a target level of Rs 118 in one-two day's timeframe.
One may buy Escorts because it has shown a good inverse head and shoulder formation on the daily charts. The stock is headed higher. Yesterday's volumes have been phenomenon; there has been good accumulation at lower levels. We believe that the stock is now headed to test its previous swing high of Rs 142 which was made in December 2013, a stoploss of Rs 125 would be good for the short-term trader.
One may go long in Coal India . It has seen massive open interest build up in yesterday's trade with aggression of long positions. The stock has been hovering close to Rs 373-374 for a while. It is also facing resistance at Rs 395 which is an immediate short-term target with a stoploss of Rs 365.
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