Buy Suzlon Energy, GVK Power, Financial Tech: Mittal

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

I am retaining Suzlon Energy from yesterday with a fresh target of Rs 29 and a stop loss of Rs 25. Suzlon performed well in yesterday’s trade, almost hit my target, missed by about 5 paise, but I think it is looking pretty strong again and given their fundamentals, that they are going to try and raise some money from the sale of non-critical assets should give them better cash flow going forward, so I think Suzlon should perform a little more from here.
I am retaining GVK Power from yesterday with a fresh target of Rs 13.60 and a stop loss of Rs 12.90. GVK Power has performed well and given all the power stocks that have been in the news with fresh coal allocations coming in from Coal India and the power stocks have started to do well and I think GVK Power will also benefit from that and will see some more upside here.
Buy Financial Technologies with a target of Rs 1,140 and a stop loss of Rs 1,090. Financial Technologies showed a profit of about Rs 90 crore although there was an extraordinary item of almost Rs 60 crore, but the stock has done pretty well. It has given a return of over 60 percent in the last six month and going forward I think there should be some more upside left. It performed well in yesterday’s trade as well.
Buy Unitech with a target of Rs 38 and a stop loss of Rs 35. Unitech has seen some sort of pressure given all the real estate stocks were under pressure, but it has recently stabilized and seems to be moving up again and the outlook for the whole sector is pretty positive and with a lower interest rate scenario I think these stocks should benefit going forward. So I have a buy on Unitech for today.