Buy PVR, UCO Bank, Crompton Greaves: Jain

In CNBC-TV18's popular show Bull's Eye, Pankaj Jain of Sunteck Wealthmax shares trading strategy of the day.

Long on PVR, not to forget that this has been one of best performing stock in year 2012 and almost given more than 100 percent return. After the Rs 395 crore Cinemax deal, the company is now managing more than 350 screens and with rising disposable income, rising middleclass, this is one segment which is continuously doing well in entertainment exhibition segment, it is expected to continue to do well. So taking that into consideration the positive momentum into consideration, we have gone long on this stock with a target price of Rs 310 for the day.
Long UCO Bank on though this stock has been fairing poorly for last couple of months, midcap public sector undertaking bank, I expect some kind of positive buoyancy in this stock taking into consideration that Reserve Bank of India (RBI) may cut repo rate by 25 bps and a 25 bps CRR cut may be an add on. So some kind of positive buildup may be seen in these midcap PSU banks and UCO Bank is one of them.
Buy Crompton Greaves. Though we have seen that this stock saw a sharp correction in month of January and February, in March some kind of positive consolidation has been seen in this stock. Though fundamentals of the stock continue to remain poor but the kind of positive momentum indicators we were seeing in last hour of the trading we feel that this stock could be headed up by another 4-5 percent in next 2-3 days. So taking that into account we have gone long on this stock only for the day.
Short National Mineral Development Corporation (NMDC). Post their successful offer for sale at levels closer to Rs 147 NMDC has been drifting down. The stock tanked by about 4 percent and even during last one hour stock was showing signs of weakness and closed almost at lower levels of the day.