Buy Unitech, Jai Corp, SCI: Pankaj Jain

In CNBC-TV18's popular show Bull's Eye, Pankaj Jain of Sunteck Wealthmax shares trading strategy of the day.
 
Buy Unitech with stop loss at Rs 36.75, target price of Rs 39.50. There have been three basic reasons for movement of this stock in last couple of months. One is a general positive momentum in the markets, secondly strong positive momentum in most of the real estate stocks and third has been the catalyst stock got when it was at levels closer to Rs 22-23 with amicable divorce with Telenor. That added to the positiveness around this stock.
 
Buy Jai Corp. This stock has again moved up pretty smartly in last two weeks or so and basic reason for this movement has been the new industrial policy which has been announced by Government of Maharashtra vis-à-vis development of Special Economic Zone (SEZ). Jai Corporation has stake in two SEZs in Maharashtra and we could be seeing that some kind of value unlocking could take place in those SEZs.
 
Buy Shipping Corporation of India (SCI). That stock in last nine months or so has always found support at levels closer to Rs 50 and from those levels it has moved to levels closer to Rs 59-60. We feel that the stock has given a fresh breakout. Stock was trading above 20 Day Moving Average (DMA) for last about 25-30 trading sessions and it has moved beyond 200 DMA in last couple of trading sessions.
 
Buy S Kumars Nationwide. This stock has been hammered from levels closer to Rs 40 to Rs 12.5-13 in last one year or so. We believe that the stock has formed some kind of short-term bottom at levels closer to Rs 13-14 and one of the main reason why stock was coming down was the selling of pledged shares by various institutions. There have been reports that most of the pledged shares have now been consumed and the sell of pledged shares is almost over now.