Buy Ipca Lab, Ashok Leyland, Sun Pharma Adv: Diwan

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

Ipca Laboratories has tremendous momentum. Given the kind of news flow around, it is bound to continue its momentum and hopefully will do well in this session today. This is a long call with a price target of Rs 711 and a stop of Rs 671.
One may go long on Ashok Leyland. This seems to be one of the contra calls but given the kind of momentum that we are seeing acquired gradual momentum in the pick up of sorts in the commercial vehicles space which is likely in the next few quarters. I would believe the government spending also on the sector is going to kick start a significant amount of order flow for some of the commercial vehicle manufacturer. Ashok Leyland which is primarily into buses would definitely benefit out of that. I expect it to do well in the medium term but for the time being it is a long on Ashok Leyland with a target price of Rs 20.70 and a stop loss of Rs 19.50.
One may go long on Tata Global Beverage with a target price of Rs 145.90 and a stop loss of Rs 136.90. Tea prices globally would help this particular company in terms of maintaining decent margins. We talked about the Starbucks potential the kind of story going forward we would like to continue with this and hope that it meets its target on intraday basis.
One can buy Sun Pharma Advanced Research Company with a target price of Rs 134.50 and stop loss at Rs 127.50.