Buy Arvind, RCom, Exide, UCO Bank: Sharmila Joshi

In CNBC-TV18's popular show Bull's Eye, Sharmila Joshi of Peerless Securities shares her trading strategies for the day.

I start by buying Arvind. This I buy with a target of Rs 89. They are likely to have a press conference in where they are likely to announce some kind of a tie-up with Uniqlo. Uniqlo is a brand which competes with the likes of Zara. We have been hearing about some kind of an entry for Uniqlo post the FDI announcement and it looks like Arvind is all set to make the announcement today and this will be a big splash entry for Uniqlo within the country. So I would expect the buzz on Arvind to continue today in trading as well, therefore a buy at Rs 89.
Next stock that I buy is Exide Industries. This I buy with a target of Rs 145 and a stop loss at Rs 140. The kind of valuations that Exide is trading at makes this a good buying proposition. I would buy this with a longer term target of Rs 155. For the day I am buying it with a target of Rs 145.
I buy Reliance Communications with a target of Rs 121 and a stop loss at Rs 116.70. We have seen some kind of buying coming into Reliance Communications and post the Reliance AGM where they did speak of Reliance Jio and the kind of plans and spending that they look to be doing for that. There is reason to hope that some of this would come Reliance Communications' way as well. So we could see some further development on this front in days to come. Therefore the buying interest in Reliance Communications would be here to stay. So I buy it for the day with a target of Rs 121.
I buy UCO Bank with a target of Rs 85 and a stop loss at Rs 81. We have seen some kind of buying emerge into the banking space and UCO Bank has been a preferred bet among the momentum players. I buy it for the day with a target of Rs 85.