Buy OMDC, NCC, Sunil Hitech: Pankaj Jain

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

Orissa Minerals Development Company is my first long call. The kind of volume pattern we have seen in the stock in Friday’s trading session, stock moved by more than 14% and the volumes were highest in the last one year. The market is flushed with rumors that 2-3 pending mining licences in Orissa which were awaiting environmental clearances they could be cleared soon. Apart from that it is debt free, cash rich company and equity base is small. Second long call is on NCC. Again the kind of volume pattern we have seen in the stock. Volume of more than 13 millions shares which is the highest volume in the last 17-18 months and there has been report that prominent investor in Mumbai along with his family they have increased the stake in the company and these infra construction companies are back into the flavour. These high beta stocks they are back into the flavour. Taking these factors into consideration we have gone long on Nagarjuna Construction with the stop loss at Rs 43.70 and target price of Rs 49.45 for the day. My third long call is on Sunil Hitech Engineers. What we have seen in the stock we have seen accumulation in the stock at Rs 60-65 kind of zone. This caters to process and power industry along with infrastructure industry. The stock was always good. The growth of the company has been good, the order position of the company has been good. It is just that the sector was out of flavour. What we have seen the kind of volume breakout, price breakout we have seen in the stock in Friday’s trading I think this breakout would continue and we could see a price closer to Rs 75 in coming days. For the day we have a target price of Rs 73.75. Short HPCL. What we had seen on Friday that HPCL, BPCL inspite of ranging market on Friday these two scripts were underperforming on Friday and the kind of rise we have seen in crude prices-7 to 8% rise in a single day I think that would definitely act as a big dampener, along with that the dilly-dangling of government on increasing diesel prices I think that would be done till the end of Presidential elections so these two stocks could again go into a stagnation mode with a negative momentum. Taking that into consideration I have gone short on HPCL with a target price of Rs 321 for the day.