Go long on Siti Cable, Dena Bank; sell UCO Bank: Tater

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

One may go long in Siti Cable Network for a target of Rs 22 and the stop loss of Rs 20.90. This stock, at current level, is decently priced and has a potential to move to Rs 28-29 and eventually to Rs 35 from medium to long-term perspective. That is a buy on dip strategy for this particular stock.

One may go long in Dena Bank for a target of Rs 74 and a stop loss of Rs 69.40 on closing basis. Dena Bank is a huge short covering candidate. If it goes above Rs 72.10 the likely targets of Rs 74 and Rs 78.50 is achievable over the next 3-4 days.

One may go long in Yes Bank from out side. If there is any fall in Yes Bank capture it and around Rs 500 one should be exiting the stock from long side. Right now the stock is rangebound between Rs 440 on downside and Rs 512 on upside. We feel that the stock could eventually go and test that Rs 500 mark from the next 3-4 days perspective. However, for intraday make a stop loss of Rs 459 and a target of Rs 475.80

One may sell UCO Bank for a target of Rs 59.50 and a stop loss of close to Rs 62.70. UCO Bank is also a buy on dip candidate from our side, but we feel given there was some profit booking there could be some pressure even on Indian markets thus we are using it as a quantitative hedge.