Buy Wockhardt, Alstom India: Aashish Tater

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

I am going long on Wockhardt. Based on the news that part of its nutrition business has been bought by Danone - this is one stock which will hog limelight in today’s trade. We have a target of close to Rs 990 which is also suppose to be a resistance for the stock for next two-three days perspective if the stock doesn’t close below Rs 939, the target of Rs 990-998 and Rs 1,060 is quite achievable.
I am going long on Alstom India for a target of close to Rs 388 odd mark with a closing stop of around Rs 373. We feel this particular stock has got good potential and even at current levels, the stock looks quite attractive.
It’s a fundamental bet. We are going long on Shasun Pharma for a target of close to Rs 127 with a closing stop of around Rs 119.65. We feel this particular stock has been range bound and because of market weakness has corrected to a decent level. Thus a bounce back can be expected in couple of day’s time.
We are going long on Rainbow Papers for a target of close to Rs 87.50 with a closing stop of around Rs 79.50. There is also a market buzz that the company is considering to sell part of its stake at much higher premium to some international player which might be the reason that the action might be seen in the stock from next three-four days perspective. However, if the stock gives a close below Rs 79.50 on the charts - the stock would go very weak and it’s better to keep a tight stop loss on this particular stock based on the market buzz.