Sell GMR Infra, Shree Renuka Sugar: Sharmila Joshi

In CNBC-TV18's popular show Bull's Eye, Sharmila Joshi, Peerless Securities shares trading strategy of the day.

Sell GMR Infra with a target of Rs 20.90 and a stop loss at Rs 21.40. Overall the weakness that we have seen in the infra space is likely to continue. I have picked up a candidate from that basket where fundamentally also things look a little stretched going ahead. So this is stock that I sell with a target of Rs 20.90.
Sell Shree Renuka Sugar with a target of Rs 23.50 and a stop loss at Rs 24.30. We are seeing a correction across the sugar space which I feel is likely to continue, largely because the sugar decontrol news that we heard was really not that exciting and while we did see some amount of sentimental buying I do not think there is enough in the news to really drive this sector up. So a sell on the stock with a target of Rs 23.50.
Buy National Hydroelectric Power Corporation (NHPC) with a target of Rs 22.60 and a stop loss at Rs 21.75. We had seen the stock correct sharply and then recover and consolidate at these levels. A good level that this stock should retrace back up to is about Rs 25-26 and that is where the valuations justify that it should be traded at. So this stock over time will pullback to those levels. For the day I am buying it with a day target of Rs 22.60.
Buy Tata Motors with a target of Rs 156.50 and a stop loss at Rs 152. Overall I am happy with the kind of data that we have gotten out of UK for JLR and the fact that a lot of the negatives are priced in in the current Tata Motors price, so I think this pullback will continue. Therefore I buy it for the day with the target of Rs 156.50 and a stop loss at Rs 152.