Buy Exide Ind, Dena Bank, Aurobindo Pharma: Mittal

In CNBC-TV18's popular show Bull's Eye, Saurabh Mittal, Swadeshi Credits shares his trading strategies for the day.

Buy Exide Industries with a target of Rs 140 and stop loss of Rs 134. Exide had a bad quarter last quarter but has since rebounded and has been a slow riser so I think it still has some way to go and with the markets looking positive for today I think Exide should do well.

Buy Dena Bank with a target of Rs 95 and stop loss of Rs 89. Banking stocks have been under pressure but after the credit policy we saw some downside given that there is more of a dovish stance going forward and world market is looking up I think the banking sector is due for a rebound and today should be a good day for other banking stocks.

Buy Aurobindo Pharma with a target of Rs 204 and a stop loss of Rs 192. Aurobindo Pharma just received a US FDA approval for a new drug and the stock has been trading near its 52 week high. So I think it should retest that level and may be even break it in the next couple of trading sessions.

Buy Tulip Telecom with a target of Rs 25 and stop loss of Rs 21.50. Tulip Telecom is a technical pick and the stock has been doing well. It is way down from its high but has recently had a decent run. Given that the telecom sector is looking good I think this stock has a little more to do in the next couple of trading sessions.