Buy Gati, Prestige Estates, NCC: SP Tulsian

In CNBC-TV18's popular show Bull's Eye, SP Tulsian, sptulsian.com shares his trading strategies for the day.

Buy Gati with a day target of Rs 31 and stop loss of Rs 28.80. The associate company Gati Infrastructure has commenced 110 MW hydropower project in Sikkim and that is going to add to the company’s bottom-line in the time to come. And this may lead to the value buying in the stock in the near-term and hence a buy call. Buy Prestige Estates Projects with a day target of Rs 182 and stop loss of Rs 175. In anticipation of better Q4 numbers likely to be posted by the company, informed buying is seen in the stock and this is likely to come for sometime which can make the share to move past Rs 200 in next one week or so, but the day target has been given at Rs 182. Buy Nagarjuna Construction Company (NCC) with a day target of Rs 35.50 and stop loss of Rs 33.50. The company is likely to monetize some of its assets soon to pare its debt and this is going to be cheered by the market. And in anticipation of that we have seen good amount of informed buying yesterday having taken place in the stock which is likely to continue for the day as well and hence a buy call. Short Oriental Bank of Commerce (OBC) with a day target of Rs 253 and stop loss of Rs 264. The gross non-performing asset (NPA) of the bank rose by 23 bps and net NPA rose by 13 bps. Profit after tax (PAT) posted by the bank of Rs 308 crore for Q4 has jumped largely because of the tax write-back of Rs 120 crore, otherwise this PAT would have been lower. And this is not likely to be seen positive by the market and the liquidations may start happening in the stock of the delivery as well as of the long positions standing in the futures and options and hence a weak trend ahead.