Buy Rel Capital, UCO Bank; sell Financial Tech: Tater

In CNBC-TV18's popular show Bull's Eye, Aashish Tater of Fortunewizard.com shares his trading strategies for the day.

One may go long on Reliance Capital for a target of Rs 355. The stock has made a technical pattern where we feel this is a likely candidate for short covering and the stock can test Rs 368 from 2-3 days prospective. Fundamentally, we feel this is the max that the stock deserves under current economic situation and thus this can be a good shorting candidate around that Rs 368 levels.
One may go long on Neyveli Lignite Corporation for a target of Rs 57.20 and a stop loss of Rs 53.50. We feel the stock at current price given that offer for sale is around Rs 58-60 will definitely see positive momentum in today's trade.
One may sell Financial Technologies with a stop loss at Rs 570 on closing basis. Yesterday news on Financial Technologies is going to create a lot of problem for both MCX and FT where we feel these are good shorting candidates at current levels.
One may go long on UCO Bank for a target of Rs 61.80 and a stop loss of Rs 59.65. We expect entire PSU banking space to bounce back and give 5 to 7 percent return from current levels in next two days perspective. This is the high beta stock in the PSU space where we feel the stock is likely to test Rs 61.80-63.50 and Rs 65.50 from the next 2-3 days perspective.