Buy Pantaloon, Tata Chemical, Short JP Associates: Tater

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

Short JP Associates for a target of Rs 72 for next 2-3 days perspective. We feel the stock would not close above Rs 77.80 the way that engulfing bearish pattern has emerged on the stock. Thus a good short from next 2-3 days perspective with a strict stop loss of around Rs 77.70. Buy Pantaloon Retail with a target of Rs 158.85 and stop loss of Rs 149.80. The stock has been broadly range bound between Rs 140-180 and whenever there is a talk of FDI in retail, this is one stock to react very fast and thus we feel it is closer to support levels and thus a good bet from short-term perspective. Buy Tata Chemical for a target of Rs 320 and stop loss of Rs 296. This is one stock which we feel has got tremendous potential in days to come and therefore should be a portfolio bet. Buy Maruti Suzuki with a target of Rs 1225 and stoploss of Rs 1150. It is based on news that Maruti is to start another plant which will actually look to resolve a lot many issues that is surrounding this particular stock. Thus go long on this particular stock. Disclosure: I don't have holdings in any stocks discussed but may have recommended them to clients.