In CNBC-TV18's popular show Bull's Eye, Aashish Tater, FortuneWizard.com shares trading strategy of the day.
I am going long on Indian Hotels Company for a target of Rs 63.50 and Rs 65 with a closing stop of Rs 61.20.
Go long on Sintex Industries. We feel Sintex Industries is rangebound between Rs 60 and Rs 75 zone and it is finding multiple support around these levels. We feel this stock with a closing stop of Rs 60 could easily go and test Rs 65 as first target and Rs 67.90 as second target. So on risk-reward front, it is a risk-reward of 1 to 8 times thus another technical call from our side.
Go long on Voltas with a closing stop of around Rs 95.50 and a target of Rs 100-104 from short-term perspective. Market has discounted a bad number and the stock has already battered from high of almost Rs 120. So, 25 percent correction pre-results in last one month, we feel the stock would show some bounce back where we expect better set of numbers from this particular company.
Buy Indian Oil Corporation. IOC and other oil marketing companies (OMCs) will get in total of Rs 25,000 crore of additional subsidy, which is going to be positive for OMCs and IOC to get a substantial chunk of this Rs 25,000 crore. We feel the stock would go and test Rs 333 with a closing stop loss of Rs 310 from short-term perspective. Thus on risk-reward front, it is Rs 145, it is worth taking a small risk on this particular stock from short-term perspective.