Feb 12, 2013, 01.10 PM | Source: CNBC-TV18
In CNBC-TV18's popular show Bull's Eye, Aashish Tater, FortuneWizard.com shares trading strategy of the day
Aashish Tater (more)
Head of Research, Fortunewizard.com | Capital Expertise: Equity - Technical ,Equity - Fundamental
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.