Go long on DB Corp, Jain Irrigation; sell UCO Bank: Tater

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

One may sell UCO Bank. Yesterday we had a buy call on this particular stock and the stock zoomed 14 percent but to our surprise we feel that results will not be that great as the markets have factored in and there is a likely selling pressure once the results are declared. We feel the asset quality would deteriorate further and even there will be pressure on net profit margin as well as net interest margin. We feel the stock, given it is a high beta in the public sector undertaking (PSU) banking space, should stabilise somewhere between Rs 67 and Rs 69 and hence the sell call.

One may go long on Power Finance Corporation (PFC) for a target of close to Rs 135 odd mark and a stop loss of Rs 125. The stock has made a very interesting W pattern and we feel at current levels there is hardly any downside from valuation perspective. There are issues which have already been factored into the prices. Any surprise on the upside could take the stock as high as Rs 155.

One may go long on DB Corp for a target of Rs 258 and a stop loss of Rs 247. Given the last minute rally on this particular stock we feel the momentum is likely to continue even in today's trade. We have an intermediate target of close to Rs 266 on the stock with stop loss as closing basis.

One may go long on Jain Irrigation Systems for a target of close to Rs 55.70 and a stop loss of around Rs 53.50. Jain Irrigation is interestingly poised at current levels and is ready to make a 15 percent upside or downside move and the point of inflection would be Rs 52.65. If this stock goes below Rs 52.65 from closing basis, short the stock with Rs 55.70 as stop loss. Otherwise, look for a target of close to Rs 58 mark from short to medium term perspective.