Sell Essar Oil, buy Adani Ent, GVK Power: Tater

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

The first stock for the day is a short from my side based on dismal result, we feel Essar Oil might be under tremendous pressure in today’s trade thus go short on this particular stock with a closing stop of around Rs 54.85 and we feel this stock would go and test Rs 50 from next three-four days perspective. The second is a long from my side; I am going long on Adani Enterprises. It is a technical call with a closing stop of around Rs 184.85 where we feel the stock might go and test Rs 205 from next three to four days perspective. I am going long on GVK Power for a target of Rs 14.50 with a closing stop of around Rs 12.50. We feel this particular stock has got good potential and is available at decent valuations. Thus one can go and initiate long from short-term perspective as well as from fundamental aspect. Go long on JSW Ispat with a closing stop of around Rs 10.25 for target of Rs 11. We feel this particular stock has got tremendous potential and given the way quant model has shaped out, there is a likely possibility that the stock would go and retrace two-third of its open offer price from next twelve-eighteen months perspective. Thus a stock that has got limited downside and a good potential upside of almost 50-60%, I think this could be one contrarian bet into a same sector where we have got neutral negative call.