Buy Vijaya Bank, Canara 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.

Because of Hexaware Technologies deal, there will be momentum in the IT space, which will re-rate Polaris Financial Technology significantly from current levels. One can go long on Polaris for a target of Rs 111 and the stop loss of around Rs 104.90.
One may buy Vijaya Bank as there could be a positive momentum given that we are bullish on public sector undertaking (PSU) banking space compared to private sector banks. Thus these are the stocks which definitely deserves re-rating from current levels, at least 20 percent upside from current levels from next 15-20 days perspective due to short covering.
One may go long on Canara Bank with a positional target of close to Rs 250 mark, however for intraday perspective we feel the target of Rs 225 is likely achievable with a positional stop loss of around Rs 209, which is one of the most undervalued banks in the public sector undertaking (PSU) space on price to book and asset quality adjustment basis. Thus we feel this will definitely be rerated in days to come.
One may sell Financial Technologies with a target price of Rs 125.