Buy JSW Energy, Dena Bank, Pantaloon Retail: Tater

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

Go long on JSW Energy for a target of Rs 60 with a stop loss of around Rs 55 on intraday basis. Energy stocks are likely to get some momentum in days to come where we expect some positive announcement, which will see JSW Energy in few other stocks trading in uptrend and even technically this stock has got a good support around current levels so it’s a buy from our side.

I am going long on Dena Bank for target of Rs 93.50 and stop loss around Rs 87.50. Dena Bank is one stock where we feel there is a likely possibility that the stock will again reach three digit mark post its result and this can be bought even from short-term perspective.

I am going long on Pantaloon Retail for target of Rs 165 with a stop loss of around Rs 153. Pantaloon has been making higher top and higher bottom for last three days and we feel given the technical snapshot it is likely to test Rs 165 odd mark in next one-two day perspective. So, keep a tight stop loss of Rs 153 on closing basis.

We feel Reliance Power would test Rs 68.50 odd mark and one should keep a stop loss of around Rs 63.80 thus it is a pure technical call and should be kept with a strict stop loss.