Buy Sterlite Industries; sell Adani Enterprises: SP Tulsian

SP Tulsian of sptulsian.com advises to buy Sterlite Industries and sell Adani Enterprises.

Tulsian told CNBC-TV18, “I have one buy call and one sell call. My first buy call is on Sterlite Industries because now the market is expecting that the merger is likely to get approved by the other High Courts also like Chennai, Goa and all sort of things.”
He further added, “Buy call for Sea Goa at Rs 149 with a stop loss of Rs 148 and target of Rs 151 and look for a gain of Rs 2 with a stop loss of Rs 1 on both the sides. One can play the same strategy on the Sterlite also because in the same pattern this will be available. I have gone short on Adani Enterprises with a stop loss at about Rs 218 and target of Rs 214 because I expect that the stock may get corrected by about Rs 3 from the current rate. So put a stop loss of Rs 1.50 and look for a gain of about Rs 3.”