Buy MRPL, Titan Industries, RComm, Apollo Tyres: Diwan

In CNBC-TV18's popular show Bull's Eye, Prakash Diwan of Altamount Capital Management shares his trading strategies for the day.

One may go long on Mangalore Refinery and Petrochemicals (MRPL). It is one of the beneficiaries of better rupee-dollar valuations and growing GRMs, the firming trend would definitely help this refining major to also bolster its balance sheet. We have seen some momentum built-up in the previous session and hope that to continue in today's session. The target price of Rs 35.90 and a stoploss of Rs 33.50 should do well. One may go long on Titan Industries. Now that the government has increased the import duty on jewellery from 10 percent to 15 percent, this should help some of the domestic players. Titan is a prime player in that space and it should benefit out of this move. We look at a target price of Rs 228.50 and a stoploss of Rs 215.50. One may go long on Reliance Communications (RComm). We have seen Bharti Airtel and Idea Cellular firm up extremely well in the recent days on the back of a significant change in spectrum pricing and some of the regulatory impact. I believe RComm also tends to benefit out of this and we would look at going long with a target of Rs 149.50 and a stoploss of Rs 139.50. One may go long on Apollo Tyres. We have seen the stock firm up in the previous couple of sessions. It is coming back into its realistic value of sorts after having been oversold and look at the target price of Rs 69.90 and a stop loss of Rs 64.90.