Buy Hexaware, Tata Global; sell Apollo Tyres: Joshi

In CNBC-TV18's popular show Bull's Eye, Sharmila Joshi of Peerless Securities shares her trading strategies for the day.

One may sell Aurobindo Pharma with a target of Rs 170 and a stop loss at Rs 175.50. In the current market pharma stocks are beginning to see some correction and now the correction is coming in here. I think this correction is likely to deepen further and I am selling a slightly weaker stock within that sector. I will sell Aurobindo Pharma with a target of Rs 170.
One can sell Apollo Tyres with a target of Rs 61.50. Their deal with Cooper Tyre seems to be running into rough weather and the weakness because of this is likely to continue.
One may buy Hexaware Technologies with a target of Rs 120. I like the midcap IT space in general including Hexware is available at a very good valuations at the current price. If one was to look at it from a numbers perspective then given the kind of revenues that I am expecting from the company in this quarter we would have a longer-term target of about Rs 135 on the stock.
One may buy Tata Global Beverage. The numbers for the company have been quite strong and the performance both from tea as well as their overseas venture is likely to be good in the coming quarter. Their joint venture with Starbucks is also beginning to ramp up so given both these things Tata Global remains a buy for me.