Buy Pantaloon Retail, SPARC, Zee Ent: Diwan

In CNBC-TV18's popular show Bull's Eye, Prakash Diwan, Prakash Diwan's Wealth Circle shares trading strategy of the day.

I have a long call on Pantaloon Retail given the fact that they have stuck an attractive deal on the general insurance business, should augur well for the company, will help them deleverage the balance sheet in a significant way and that is something that they have been aiming for since long time. So, Pantaloon Retail with a target price of Rs 149.90 and a stop loss of Rs 142.90 is a first long.
I have a long call on Sun Pharma Advanced Research Company (SPARC). This is thanks to the impetus the government is likely to give for pharmaceutical research particularly companies that are completely focused on research and development (R&D) are very rare and Sun Pharma happens to be one of those odd breeds. Zee Entertainment Enterprises is another long. This is thanks to the fact that media should continue doing well and Zee Entertainment Enterprises has corrected itself from higher levels but could see a possible rebound from thereon. Zee Entertainment Enterprises with a target price Rs 211.50 and a stop loss of Rs 202.50 is the third long.
Fourth is a short at Adani Enterprises. I believe that the entire group is facing a lot of difficult times particularly the kind of selling that we have seen on some of the larger investors and institutions. I would believe the stress continues for Adani Enterprises today on an intraday basis as well. The target price is Rs 189.90 for the short and the stop loss of Rs 199.90.