Go long on Jet Airways, Hexaware; sell RComm, Sun TV: 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 Reliance Communications (RComm) for target of Rs 130 and stop loss of Rs 149 on closing basis. Reliance Communications is making a pattern which we feel is distributive and with our recent downgrade report on the stock and valuation that it is right now trading on enterprise value. We feel this is high risk trade where shorters will be rewarded from medium-term perspective. The FCCB loan itself has gone up because of the rupee currency and even the market cap is going up so this is a question mark from our report which is actually making us believe that the stock will tank from current levels.
One may sell Sun TV Network. It has made a bearish pattern and now is ready to test that Rs 370 zone from medium-term perspective. However, for intraday I am putting a target of Rs 375 on the stock.
One may go long on Jet Airways. It is poised at a level when it had gone last time and is making a pattern where we feel there will be list of negative news and positive news. The broad trading range for this stock is Rs 390 on downside and Rs 470 on the upside. For intraday we feel if this stock does not breach Rs 399, which is roughly around yesterdays low, the stock is likely to test that Rs 418 mark in today's trade. Keeping an intraday view or even a positional trade the stock looks highly risk rewarding at current levels.
One may go long on Hexaware Technologies for a target of Rs 104.80 and stop loss at Rs 101.50. Hexaware is a very interesting bet and we have been recommending this stock right from Rs 84 mark and we feel this particular quarterly result will surprise most of their estimates. The stock is likely to get rerated. One of the existing shareholders of the company is likely to exit from this particular stock and we feel the pattern that it has actually shaped out the stock will go and test Rs 120 from short-term perspective. However, our first target of Rs 100 has already been achieved and now we are just raising the targets at current levels.