Buy TCS, Patel Engg, Financial Tech: Aashish Tater

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

I am going long on TCS for a target of Rs 1300. The stock has good support around Rs 1218 which I feel should be the stop loss on closing basis for the trade and on risk reward basis which is almost 1:7 so one can go long on this particular stock with a tight stop loss.
I am going long on Patel Engineering. Even in yesterday’s trade it did not breach that Rs 98 mark on closing basis and thus it is still an open trade and we feel going forward there is a likely possibility. There is a strong buzz in the market regarding they selling their stake and partly settling off their debts which would be big positive for the company thus one can go long on this particular stock for a target of Rs 110 from short term perspective. If someone has a medium term view we feel it can easily get Rs 130 to Rs 140 on conservative side for the stock.
I am going to short Financial Technologies for a target of Rs 735. The stock has become weak after the announcement. Thus go short on this stock with a closing stop of around Rs 782 for a target of Rs 735 and eventually Rs 710.
The fourth is a long from my side. It is based on result expectation. We expect very good quality numbers from Development Credit Bank and thus one can go long from next two-three days perspective for a target of close to Rs 50 mark. However, intraday if someone is taking a position should see a target of close to Rs 48.50 as exit level.