Buy Amara Raja Batteries, eClerx, Wockhardt: Agarwal

In CNBC-TV18's popular show Bull's Eye, Abhishek Agarwal, Fortune Interfinance shares trading strategy of the day.

Buy Amara Raja Batteries. The target price is Rs 380 with a stop loss of Rs 355. Amar Raja Batteries have delivered excellent set of numbers yesterday with a profit doubled and yesterday, it has also broken its key resistance of Rs 325 and touched it lifetime high of Rs 378. I believe that the stock has still some momentum left for more upside, therefore, it is a buy call. Buy eClerx Services with a target price of Rs 810, stop loss of Rs 775. eClerx is one of the very good pick in the midcap IT segment. The stock has been a favourable buy from the FIIs despite adverse market condition the stock still is in an upward momentum, therefore it is a momentum intraday call and one should maintain a strict stop loss. Buy Wockhardt with a target price of Rs 1280 and a stop loss of Rs 1220. Wockhardt is one of the best turn around stories in the last one year. The stock has actually given almost 2.5 times return in the last one year from its lows. Still the momentum is very-very strong and the stock is almost trading to its lifetime high. I would maintain that one should keep a strict stop loss for more upside. My fourth pick of the day is yesterday’s rollover is Pantaloon Retail. With a revised target price of Rs 170 and a stop loss of Rs 158, I believe that FDI in the retail space would be cleared this monsoon and therefore the stock still have a lot of attractive valuation left for long term investor. One should again keep a tighter stop loss for having a better upside in going forward future.