Buy JK Lakshmi, Voltas, JSPL: Pankaj Jain

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

Buy JK Lakshmi with a target of Rs 86.95 and stop loss of Rs 78.75. What we have been seeing in the stock for last 3-4 months is the stock has been hovering between 62-68 and that is also its 200 day moving average (DMA). Stock is at almost more than 2 year high and the kind of positive momentum which has been seen in this stock in last 2 days should continue in Thursday’s trading session also. We have an aggressive target price of closer to Rs 87 for the day. Buy Voltas with a target of Rs 119.25 and target of Rs 111.25. Voltas saw a very sharp run yesterday on back of news that AC sales have been very strong and this has been aided by very severe summers in northern part of India and generally we see June ending results that Q1 results for Voltas and other AC manufacturers are good. So I think this momentum will not subsidies immediately and may carry on for another 2-3 trading sessions. Buy JSPL (Jindal Steel and Power) with a target of Rs 482 and stop loss of Rs 453. In today’s trading session this stock has moved smartly by 2.5-3% and there are two basic reasons for this. We have seen most of the commodity stocks, metal stocks moving sharply and this positive momentum should continue for another 2-3 days. Apart from that the news that partially mining ban may be lifted in Karnataka that is also adding to the sentiment of all the steel players. Buy Advanta India with a target of Rs 545 and stop loss of Rs 514. This is a United Phosphorous Seed company and what we have been seeing for whole of June, this stock had been hovering between Rs 470-500. Mini drought like situation in the country and government saying that they may go in for free redistribution of seeds, I think that could aid this company. It is a strong company with very strong growth prospects and its balance sheet is strong. So taking all these factors into consideration Advanta should do well in coming weeks. Disclosure: I don't have holdings in any stocks discussed but may have recommended them to clients.