Short Punj Lloyd, PTC; buy Dena Bank: Tater

In CNBC-TV18's popular show Bull's Eye, Aashish Tater, Fortunewizard.com shares trading strategy of the day.

I am going to short Punj Lloyd for a target of Rs 47 with a stop loss of Rs 53. We saw what happened on expiry day, the stock jumped 20 percent, but there has been no shift in the fundamentals of the company, thus again there will be distribution in this particular stock and the stock will dwindle to that Rs 45 odd mark in days to come. Thus keeping a strict stop loss of Rs 53 one can go even for a positional target of Rs 45.
I am going to short PTC India for a target of Rs 59 and an eventual target of Rs 57 with a stop loss of Rs 62. The stock has made a bear engulfing pattern and thus the stock could see some pressure even in today’s trade.
I am going long on Reliance Communications for a target of Rs 67 with a stop loss of Rs 62. RComm is one stock where we feel using Option heading along with long in the stock would benefit the traders. Since the stock is broadly range bound between Rs 60 on downside and Rs 72 on the upside, thus there can be good momentum shift on either side depending on market scenario. This is one stock that can be looked even as a trading bet from short-term perspective.
Fourth is a long from our side. Go long on Dena Bank for a target of Rs 92 with a stop loss of Rs 85.