Short Godrej Ind, Idea, HUL: 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 to short Godrej Industries for a target of Rs 223.50 and Rs 219 for today and tomorrow straight. The basic reason being that the QIP rate people are looking at, we feel the price would be at least below Rs 225. That would give a sentimental dent to the stock, which we feel could give a technical trigger to a tune of Rs 215 mark also. Go short on this particular stock with a closing stop of around Rs 235. I am going to short Idea. The numbers we feel are not going to be as per market expectations because our numbers work out to be less than Rs 280 crore odd bucks. We feel this particular stock would be under tremendous pressure after the results come out and the stock would go and test Rs 77 which is a technical support for the stock. So, go on this particular stock with a stop loss of around Rs 81 for a target of Rs 77. I am going to short Hindustan Unilever for a target of Rs 421 with a closing stop of around Rs 454. It’s a positional call. We feel the FMCG business flavour will be out very soon thanks to poor monsoon which will create a trigger sell off across ITC, HLL and other players. We feel given the fast run up that the stock has seen from Rs 420-450, it would again go and test those support levels. So, from next two-three days perspective one can go short on this particular stock. I am going long on Cairn India for a target of close to Rs 335 odd mark with a closing stop of around Rs 319.50. Crude has given a good bounce back and we feel this particular stock has got good range bound trade between Rs 310-340 levels. Thus it can be played on either side.