Sell IFCI, Voltas, Divis Laboratories: Tater

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

I am going to short IFCI for a target of Rs 28.80 and a stop loss of close to Rs 30.15. IFCI is broadly range bound between Rs 26 on downside and Rs 33 on upside and we feel there could be system weakness, which will see high beta stocks under some pressure and we were not excited with seeing the result on this particular stock. Thus even fundamentally we feel the stock will languish around Rs 26 on the lower zone in days to come before making an upmove. Voltas is second short from my side. It is a rollover from yesterday’s trade with a target of close to Rs 89 mark with a stop loss of close to Rs 93. Crompton Greaves this time is a long from our side. As we suggested, this is a buy-on-dips candidate and we are comfortable in buying more around Rs 100-102 mark but we felt there will be a likely technical pull off in yesterday’s trade, which materializes. So we remain long on this particular stock with an intraday stop loss of close to Rs 100.50 which was an intraday low of a stock for a target of Rs 106 and Rs 115 eventually.
I am going to short Divis Laboratories for a target of close to Rs 1,040 mark with a stop loss of Rs 1,103. Divi’s Laboratories is one stock where we feel valuations are bit stretched, also because this is another contender where we feel this will eventually get out of the F&O system because of low liquidity in the F&O price and this will further price correction on the stock where we feel the target of Rs 900 is achievable in the short-term.