Buy LIC Hsg Finance, Idea, Anant Raj: Tater

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

I am going long on LIC Housing Finance for a target of Rs 242 with stop loss of Rs 230. LIC Housing Finance is expected to do well post its results and policy on May 3 from Reserve Bank of India (RBI), we feel housing finance companies will do well till then. Therefore, go long on this stock for a target of Rs 250 eventually with same positional closing stop loss of Rs 230. However, for intraday, maintain a target of Rs 242.

I am going long on Idea Cellular for a target of Rs 119 with a stop loss of Rs 115.5. Idea posted good set of numbers in yesterday’s trade and beat our topline estimate by almost 1.5 percent and a profit estimate of close to Rs 288 crore versus the company posting Rs 308 crore, we feel this will surprise the street and the stock will eventually test Rs 122. So, with same stop loss one can go long on this stock for a target of Rs 119 and eventual target of Rs 122 with a stop loss of Rs 115.5.
I am going long on Anant Raj for a target of Rs 70.8 with a stop loss around Rs 67.8. Anant Raj is one stock, which is making higher highs and higher lows and we feel given the fundamental value of the stock, the stock is likely to test Rs 86.55 in days to come. Therefore, a safe bet from our side.