Balrampur Chini, Gokaldas Exports, NIIT: Trading strategy for these buzzing stocks

Domestic stock indices on Thursday managed to settle with mild gains. The BSE Sensex gained 52.01 points, or 0.08 per cent, to 67,519. The NSE Nifty added 33.10 points, or 0.16 per cent, to 20,103.10. Select stocks namely Gokaldas Exports Ltd, NIIT Ltd and Balrampur Chini Mills Ltd are likely to be in focus today. Here is what Avdhut Bagkar, Derivative & Technical Analyst at StoxBox has to say on these stocks ahead of Friday's trading session:

Gokaldas Exports | Buy | Target Price: Rs 855 | Stop Loss: Rs 750
As long as the support of Rs 750 level stays, the trend for Gokaldas Exports remains bullish. On the upside, a breakout above Rs 800 could prompt the next rally. An aggressive move over Rs 800 could propel the stock to rise towards Rs 840 to Rs 855 levels. One can keep a stop loss at Rs 750.

NIIT | Buy | Target Price: Rs 140-150 | Stop Loss: Rs 125
Volumes on NIIT exceeded two-month daily average, prompting a fresh breakout on the counter. A fresh 52-week high poses a new bullish momentum in the trend. The stock has support at Rs 125 and Rs 105 levels, respectively. It can target levels of Rs 140-Rs 150 going ahead.

Balrampur Chini Mills | Buy | Target Price: Rs 475-490 | Stop Loss: Rs 400
Balrampur Chini has decisively surpassed two major resistances of Rs 420 and Rs 430, respectively, amid aggressive volumes, making room for further upside in coming sessions. The relative strength index has yet to enter the overbought territory, indicating more room for upside. We recommend a bullish bias for a target of Rs 475 and Rs 490 levels, with a stop loss of Rs 400.

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