Buy IGL, SKS Micro; sell Century Textiles: D Cunha

In CNBC-TV18's popular show Bull's Eye, Lancelot D Cunha CEO of Sharyans Wealth Management shares his trading strategies for the day.

One may buy Indraprastha Gas as it has been rising for the past few days other than yesterday in the selloff on the back of approval awaited for gas pricing which could be beneficial for the company. I believe there has been some amount of interest rate buying and we could see this buying continue. One may buy SKS Microfinance. Yesterday it saw a very large block deal close to the end of day's trade and I believe this could take the stock up further given that there could be some more buying taking place in the stock. The fundamentals of the stock are also improving with good quarterly results in the previous quarters. I expect the stock to move up and hit its target price of Rs 139. One may sell Century Textiles and Industries. It had risen significantly on the back mainly of its real estate transactions and given the weak economic outlook as well as the debt scenario this is unlikely to happen. I suspect that there could be some unwinding of positions taking place which could bring the stock down further. One may sell Indiabulls Real Estate. Given the interest rate rising scenario as well as the difficult market conditions, real estate markets and real estate companies would be in a downtrend. We saw increased selling in the previous trading sessions and I expect the selling to continue and the stock to hit its target price of Rs 54.