Buy Motherson Sumi, J&K Bank, Emami: Agarwal

In CNBC-TV18's popular show Bull's Eye, Abhishek Agarwal, Fortune Interfinance shares trading strategy of the day.

Buy Motherson Sumi with a target price of Rs 165 and a stop loss of Rs 153. Yesterday Motherson Sumi had come out with excellent set of results where the profit grew by 153 percent to Rs 5,800 crore and the profit rose substantially that by the forex gains. Although the stock has not reacted in yesterday’s trade I believe it will catch up in the medium to long-term. Buy J&K Bank with a target price of Rs 1,400 with a stop loss of Rs 1,280. Yesterday J&K Bank had come out with its results and it was better than expected. Yesterday the stock also rose to its lifetime high and I believe that current bull run in the stock will further take the stock higher than the current prices. Therefore it is a buy for the short-term. Buy Emami with a target price of Rs 610 and a stop loss of Rs 570. Today Emami results are expected to come out and I am hopeful that the results will be better than the market expectations. The stock also has been consistent performer in the last one year and is one of the best stocks available in the infrastructure space for the medium-term. Therefore one can look the stock overall on a long-term portfolio and therefore it is a buy. Sell Jubilant Foodworks with a target price of Rs 1,220 and a stop loss of Rs 1,310. I believe the current valuations are extremely rosy and the stock should be correcting in the medium-term. Although today results are expected I am not considerably hopeful on the overall profitability side. Therefore some sort of correction is expected in the medium-term.