Go long on KPIT Cummins, Finolex Cables, Andhra Bank: Diwan

In CNBC-TV18's popular show Bull's Eye, Prakash Diwan of Altamount Capital Management shares his trading strategies for the day.

One may go long on KPIT Cummins Infosystems which is one of the mid spaces IT player that seems to be coming into its strength very soon. This is a company that has distinctly been way ahead of others in terms of the auto support software that it always specialises in. I would expect some sort of positive news flow to emanate for this particular counter and we decided to go long with a target price of Rs 123.50 and a stop loss of Rs 117.50.
One may go long on Finolex Cables. We have seen some momentum built up in this particular counter. This is a company that also owns a significant component of Finolex Industries that has done extremely well in the recent times. It also has very bright future in terms of both, Finolex Industries market segment of agri based areas as well as its own capital business of the power sector. It also has a significant amount of cash on its books so it makes up for the very decent near term kind of a stock in a portfolio. However given the momentum, we would like to trade this on the long side for today with a target price of Rs 54.90 and a stop loss at Rs 52.90.
One may go long on Apollo Tyres. The company has been in the news for all the wrong reasons. We have seen the stock plummet distinctly in the last couple of weeks and of course a revival of sorts has seemingly started to happen. I believe this is a company that will definitely benefit from the kind of come back or a pullback of sorts that is expected in this counter. We would like to go long on Apollo Tyres with a target price of Rs 62.90 and a stop loss of Rs 59.90.
One may go long on Andhra Bank. Given the positive bias that is building around some of these oversold undervalued public sector undertaking (PSU) midcap and smallcap banks, I believe we have already seen the likes of UCO Bank and Dena Bank do significantly well in the last couple of sessions. Andhra Bank also should come into some sort of a momentum in today's session. So that's a long with a target price of Rs 84.90 and a stop loss of 79.90.