Buy Karnataka Bank, IFCI, Hexaware Tech: Tater

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

I am going long on Karnataka Bank for a target of Rs 211 with a revised positional stop loss of Rs 170. The way the pattern has emerged, we feel the highs would be easily taken off and there is a likely probability that the stock would go and test Rs 235. So keep increasing the stop loss on positional basis for higher targets and do book 40-50 percent of your longs around Rs 211 mark because it is a four year resistance which should see some sign of technical respect. So there might be a supply zone for the stock.
Buy IFCI. We feel the banking amendment bill would eventually be passed and there would be a likely possibility that even IFCI, which has a talk of a merger with either IDBI or IDFC could see a lot of momentum in days to come. We have been long on this particular stock from short-term perspective with a closing stop of Rs 33 for an eventual target of Rs 45-50 levels. However, for intraday perspective, go long on this particular stock for a target of Rs 36 with a closing stop of Rs 34.
Buy Hexaware Tech. We feel at current price, Hexaware guidance has already been factored in. We have been long on this particular stock with a closing stop of Rs 91.40 for a positional target of Rs 100-101.
Buy Delta Corp. It is a rollover from yesterday’s trade. We feel with the New Year approaching, the stock would go and eventually test that Rs 95-100 zone and the way the technical pattern has emerged, we feel a positional stop loss of Rs 76.6 for target of Rs 100 looks likely. However, on intraday basis, I would like to increase my stop loss to Rs 80 for a target of Rs 85.