Sell Unitech, IVRCL, Shree Renuka Sugars: Joshi

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

Sell Unitech with a target of Rs 22.70 and a stop loss at Rs 23.70. Unitech being in the real estate space as well as having a very leveraged balance sheet has invited some amount of selling and I think that this stock is headed lower. For the day I sell it with a target of Rs 22.70.
Sell IVRCL. This I sell with a target of Rs 18.05 and a stop loss at Rs 19. The overall infra space is under pressure once again because very leveraged balance sheets and the general slowdown in terms of orders. The lack of policy action in this entire space has hurt a lot of players in this space quite badly. Most of the companies within the space are bleeding, IVRCL is no exception.
Sell Shree Renuka Sugars with a target of Rs 21.90 and a stop loss at Rs 22.90. The cabinet decision on sugar decontrol has been deferred and a lot of buying had come into this space on the back of some amount of relief in quota levy etc., but now that does not seem to be happening. Also in a market like this where so many other midcaps are available at very good valuations I do not really see buying coming into the sugar space. So I think that we will continue to see selling pressure across sugar stocks. Shree Renuka Sugars is a stock I sell with a target of Rs 21.90.
Sell Industrial Finance Corporation of India (IFCI) with a target of Rs 25.05 and a stop loss at Rs 25.90. We have seen a lot of stress coming into the balance sheet of a lot of players like this kind of financial institutions. So this is a stock that I sell with a target of Rs 25.05.