Buy Clariant Chemicals, Jet; sell Raymond, Hind Zinc: Diwan

In CNBC-TV18's popular show Bull's Eye, Prakash Diwan of Altamount Capital Management shares his trading strategies for the day.

One may buy Clariant Chemicals as the company has been in momentum for the last many sessions, thanks to the decision to get off some of the real estate assets and unlock value. I would expect this company to continue with high dividend yield stand and reward its investors and shareholders. Look at going long on this with a target of Rs 529 and stop loss of Rs 499. One may buy Jet Airways as its has management has decided to go ahead with clarifying whatever is required to set the deal in place by July 31 and that is positive for the stock. I expect the stock to gain momentum again. I have a target of Rs 382 and stop loss of Rs 368 for the day. One may sell Raymond as the stock has had its technical damage of sorts, getting out of the F&O very soon. However, even the momentum on the downside will continue today and that is where I expect to make some money going short on this with a target of Rs 226 and stop loss of Rs 239. One may sell Hindustan Zinc as the stock has again seen some negative buildup. Look at going short as stress on the metal counters is going to continue. Particularly this is a weak counter from that aspect and it could probably test its all time lows. However for the day we are looking at a target of Rs 99 and stop loss of Rs 105.