Buy Delta Corp, Petronet LNG, IRB Infra: Tater

In CNBC-TV18's popular show Bull's Eye, Aashish Tater, FortuneWizard.com shares trading strategy of the day.
 
One should go long on Delta Corp for a target of Rs 88 with a closing stop of Rs 80. There is a strong market buzz that a company is foraying into the Macau with a new casino. If this happens to be true and the way the volumes have shaped out, we feel the stock would get rerated and easily test at Rs 95 levels. Thus one can remain long on this particular stock.
 
Petronet LNG is another long from our side. The Petroleum and Natural Gas Regulatory Board (PNGRB) issue has been an overhang for this particular stock. With technicals improving along with the news getting settled, we feel the stock has got higher levels to test. We feel the stock would go and stabilize around Rs 170 mark in the short-term. So remain long on this particular stock with a closing stop loss of Rs 159.80 and an intraday target of Rs 166.80 and then Rs 170.
 
I am going long on IRB Infrastructure Developers  for a target of Rs 138 with a closing stop loss of around Rs 131. IRB has been in news and every time there is a denial from management for whatever reasons, we feel a bear cartel has been shorting this particular stock. If there is a short squeeze on this stock, fundamentally the stock has got right value of above Rs 180. Thus one should remain long on this stock from a medium-term perspective too. However, for intraday perspective, one should go long on this stock for a target of Rs 138.
 
Jet Airways is another long from our side. We cover Jet Airways as an idea where we felt that Etihad or some other large player would pay the company somewhere between Rs 820 and Rs 830 per share but this will not trigger an open offer and we see the stock stabilizing around Rs 620-630 levels.