Buy Tata Global, JSW Energy, Punj Lloyd: Pankaj Jain

In CNBC-TV18's popular show Bull's Eye, Pankaj Jain, Sunteck Wealthmax shares trading strategy of the day.
 
Long on Tata Global. The stock after moving rapidly to levels closer to Rs 180 we have seen a bout of profit booking at those levels. The stock has reconsolidated between levels of Rs 155 and Rs 165 and with the kind of positive momentum back into the market and we are seeing institutional demand back into the stock and recent quarter results of the company were pretty encouraging and though these consumption driven stocks, lifestyles stocks continue to be expensive but the kind of momentum we are seeing in the market and the kind of demand we are seeing in the stocks, the stock would continue to do well.

Long on JSW Energy. The company’s Q2 results were much better that market expectations and one of the reason for that was softening of coal prices across the globe and coal prices on a relative basis continue to be soft. With that into consideration, we have seen in September the stock had moved very rapidly from levels closer to Rs 40 to Rs 60. Thereafter, next two months stock consolidated around those levels. In last two-three days especially on Friday we have seen a fresh break-out in this stock.
Long on Punj Lloyd. What we have seen in this stock, this stock made a high of Rs 59 in April it made again a high of Rs 59 in November, but the highs could not breach this levels. What we have seen in Friday’s trading sessions, the stock closed well above Rs 60 and with very strong volumes, Infrastructure stock along with realty stocks are again on the move and one of the primary reason is expected interest rate cut in near future.
Long on Purvankara. This stock has moved from levels closer to Rs 65 to three digit mark in the last three-four months. Q1 result of Realty Company were pretty good. This is a south based company. Basically most of the projects are in Hyderabad, Cochin, Chennai, Bangalore and Q1 results were pretty exciting. Q2 results were very strong both top-line basis and on bottom-line basis. The kind of smart money movement we are seeing in good midcap real realty stocks, we believe that Purvankara could be headed to levels closer to Rs 115-120 in coming weeks.