Short JP Associates, SAIL: Ashish Tater

In CNBC-TV18's popular show Bull's Eye, Ashish Tater, Fort Share Broking shares trading strategy of the day.

I am going short on JP Associates for a target of Rs 73 with a closing stop of around Rs 77.80. We feel eventually the stock would correct to Rs 70 levels thus a good short from our side.

I am going long on Cox & Kings for a target of Rs 160 with a closing stop of around Rs 142. It is a fundamental bet and looking at the numbers, the company posted on Tuesday, we feel this is one stock that can be looked upon from long-term perspective as well. We have a target of close to Rs 175-180 mark from six-eight months perspective. There is a portfolio bet also from our side.

I am going long on UB Holdings for a target of Rs 105 with the closing stop of Rs 92. The stock is facing technical sell pressure around Rs 97-98 mark but my technical team suggest that once this Rs 98 level is breached, this stock would easily go and test Rs 105 on upside thus another technical call from my side.

I am going short on Steel Authority of India Ltd (SAIL) for a target of Rs 82 with a closing stop of Rs 87. We have been bearish on SAIL for quite some time now and we feel that eventually the stock would go and test that Rs 75 mark which we have been maintaining. Previously we had gone neutral on this particular sector but still we feel there is 8-10% downside on SAIL from current levels.