Go long on Strides Arcolab, PFC, Polaris: Aashish Tater

In CNBC-TV18's popular show Bull's Eye, Aashish Tater of fortunewizard.com shares his trading strategies for the day.

I am going long on Strides Arcolab for a target of Rs 920 and a stop loss of around Rs 880. The stock recently announced that they want to hike the FII limit from 49 percent to 74 percent. This goes in-line with the recent shareholding pattern where foreign investor holding has gone up from 40 to 46 percent. Remember, we upgraded this stock around at Rs 730 after downgrading it right from the Rs 1,300 odd mark. We feel at current levels, there is hardly any long side, but a potential upside of almost to the level of Rs 1,000 from medium term perspective thus a long from our side. I am going long on Polaris Financial Technology for a target of close to Rs 118 and a stop loss of close to around Rs 113.85. Polaris and other IT sector stocks could be in focus today given the way the frontliners have actually run up in yesterday's trade. Polaris is one bet where we feel a target of Rs 140 is achievable from short term perspective thus another long from our side. I am going long on Dhanlaxmi Bank for a target of close to Rs 37 and a stop loss of Rs 33.50. It has been making very interesting chart patterns and it is going in line with the 'W' that we look for from quantitative trade perspective. If the model goes well and if I combine the fundamental value along with it, we feel that stock is no brainer for a target of close to Rs 50 with a stop loss of around Rs 31 from medium term perspective. If we see, the company's branches and compare it with any other private sector bank, it is one of the cheapest banks available in the space. I am going long on Power Finance Corporation (PFC) for a target of close to Rs 145 and a stop loss of around Rs 135. Yesterday, we recommended a short on REC. After testing our levels of Rs 190, the stock rebounded very sharply. We expect a huge short covering even in PFC. It’s a pure technical call from our side but we feel a target of Rs 155 is likely achievable if the stock does not close below Rs 133.80 thus a long from our side.