In CNBC-TV18's popular show Bull's Eye, Rajesh Agarwal of Eastern Financiers shares his trading strategies for the day.
One may buy Dishman Pharmaceuticals & Chemicals with an intraday stoploss of Rs 48 and target of Rs 51.50.
One can buy Denso India with an intraday stoploss of Rs 130 and target of Rs 138.50. This is an Indian subsidiary of Denso Corporation of Japan which is world leaders in electrical parts. They supply to Maruti and other companies. The stock has seen quite a momentum since the parent has announced voluntary delisting. On operational front, the company has been reducing losses from last few quarters.
One may buy Jubilant Foodworks with a stoploss of Rs 1084 and target of Rs 1142. The company basically operates the Domino Pizza and Dunkin Donuts restaurant. Currently it has more than 600 restaurants which they are trying aggressively to increase. The management is confident of increasing the same stores sales from 6 percent to 10-12 percent in the coming quarters. With discretionary spends on the rise we believe company like Jubilant is going to benefit.
One can buy VIP Industries with an intraday stoploss of Rs 49 and target of Rs 53. This company has strong brands, a very wide product portfolio and a wide distribution network. They have around 60 percent market share in organised luggage market. Not only domestic but they have presence in Russia, Canada, Hong Kong, Indonesia etc. The counter has witnessed good bounce back in the recent past and we believe that the momentum is going to continue, hence a buy call.