Buy Wockhardt, Hexaware Tech; sell Allahabad Bank: Joshi

In CNBC-TV18's popular show Bull's Eye, Sharmila Joshi of Peerless Securities shares her trading strategies for the day.

Post the bad set of numbers Voltas remains a sell for me. I sell this for a stop loss at Rs 70.70. Overall the infra space will take it on the chin in bad markets and Voltas will suffer more because of the kind of bad numbers that they have delivered. One may sell Allahabad Bank. Once again post poor performance from public sector undertakings (PSU) banks and the kind of correction that we are seeing across the banking space, the midcap banking space and PSU banks are likely to feel the heat in such markets which is why Allahabad Bank is a sell for me. One may buy Wockhardt with a target of Rs 470. Post the release of pledge shares as well as decent set of numbers from Wockhardt we have seen buying return to the stock after a long time and I think it is likely to continue for a while. For the day I will buy it with a target of Rs 470. One may buy Hexaware Technologies with target of Rs 123.50. With strong set of numbers from Hexaware and from IT in general we have a longer term buy target on the stock at Rs 135. For the day I am buying it with a target of Rs 123.50 because IT is likely to hold its own in these rocky markets as well as the fact that rupee depreciation will help this space more.