Buy BHEL, Firstsource Solutions; sell Godrej Ind: Agarwal

In CNBC-TV18's popular show Bull's Eye, Rajesh Agarwal of Eastern Financiers shares his trading strategies for the day.

One may buy Bharat Heavy Electricals (BHEL) with a stoploss of Rs 146 and target of Rs 155. This is a carry over stock from yesterday's call with a revised stoploss and target. One may buy Firstsource Solutions which is a carry over stock from yesterday's call with a revised stoploss of Rs 16.25 and target of Rs 17.50. One may buy Idea Cellular with stoploss of Rs 169 and target of Rs 177.50. The company has shown strong performance in June quarter. Q1 net was up by around 98 percent on account of good volumes in mobile and data services. Even average revenue per unit (ARPU) has increased to 174 from 167. They plan to raise money via QIP and with consolidation in the telecom sector with small players going out we believe that companies like Idea are going to benefit in the long run. One may short Godrej Industries with a stoploss of Rs 283 and a target of Rs 272. The counter has broken important support level in yesterday's session so we have witnessed huge short positions being created and we believe that this weakness is going to continue for some more sessions hence a sell call.