Buy Punj Lloyd, Jaypee Infra; short Voltas, Crompton: Tater

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

Buy Punj Lloyd, it is a technical call and strictly on intraday basis for a target of Rs 57 with a stop loss of Rs 53.90. Buy Jaypee Infratech with a target of Rs 43 and stop loss of Rs 40, we have an eventual target of Rs 46.50 on the stock. Short Voltas for a target of Rs 91 and a stop loss of Rs 96.70. Yesterday the stock had actually gone up, in fact the entire capital good stocks had gone up based on a rumor which we feel will see some pressure in terms of unwinding in today’s trade. However at Rs 78-80 we were recommending this particular stock for a target of Rs 115. We are still looking at those targets but eventually the stock should be a buy on dips around Rs 91. Short Crompton Greaves. It is based on the same logic where we feel some small unwinding pressure would come up on the stock. Go short on this particular stock for an intraday target of Rs 101 with a stop loss of around Rs 108. It is a buy on dips strategy from our side thus remain long if you are a positional trader but on intraday basis there will be a likely unwinding on the stock.