Buy Glodyne, Cox & Kings, IGL: 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 Glodyne Technoserve for a target of close to Rs 450 odd mark with a closing stop of around Rs 380. DecisionOne, its subsidiary has won USD 42 million contract into IMS service in US and we feel going further the company is going to get qualified for higher tenders which would be highly beneficial for the company. At current levels the stock looks almost priced in. Thus there is a limited downside of say around Rs 380 odd mark and limited upside to that Rs 450-460 levels under current situation. But the stock has been performing well right from our recommendation levels of Rs 230-240 and we still hold a positive view on the stock. MphasiS is another stock that we would like to short for a target of close to Rs 360 odd mark. Because we feel that this particular stock would also be under the same threat like other IT majors and thus it should also be shorted on rise. I am going to go long on Cox & Kings for a target of Rs 155 from short-term perspective. The stock is available at valuations which is relatively attractive. Given the global slowdown the stock has been under pressure, but the tourism industry needs to get revived and it will be sooner or later revived and then the stock would go and stabilize around at Rs 170-175 odd mark. So at price of near about Rs 130-140 levels it’s a safe bet from longer term perspective. Buy Indraprastha Gas (IGL)with a target of Rs 260 on it and a stop loss of Rs 243.50.