In CNBC-TV18's popular show Bull's Eye, Saurabh Mittal of Swadeshi Capital shares his trading strategies for the day.
Buy Havells India with a target of Rs 740 and stop loss of Rs 705. Havells results came out yesterday better-than-expected. The stock had a good run and it is trading close to a high. This stock has little further to go given the results and also the outlook. So, even for today as well as for the medium to long-term Havells looks like a good pick.
Buy Canara Bank with a target of Rs 449 and stop loss of Rs 430. Canara Bank results are due out today. The stock saw a little bit of bounce yesterday may be in expectation of good results and if that happens then you will see a decent bounce in the stock with a strict stop loss.
Buy Financial Technologies with a target of Rs 868 and stop loss of Rs 830. The results will be out tomorrow and they are expected to be good. The stock has done well and this is also a pick for the medium to longer term but always keep a strict stop loss because the markets are volatile these days.
Buy Jindal Stainless with a target of Rs 58 and stop loss of Rs 54. Jindal Stainless results were not good but preferential issue has been announced at much higher premium to the market at almost Rs 74. So we should see some more upside on this stock in the next couple of days.
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