Buy Jet Airways, Hexaware Tech, Karnataka Bank: Tater

In CNBC-TV18's popular show Bull's Eye, Aashish Tater, FortuneWizard.com shares trading strategy of the day.

I am going long on Jet Airways for a positional target of close to Rs 600 mark from short-term perspective. We have a target of close to Rs 830 on this particular stock from medium-term perspective because we feel the deal would be stuck between Rs 810 and Rs 815 and this could be a huge positive for shareholders that this is one stock, which should be bought on every dip.

Aurobindo Pharma is another rollover from yesterday’s trade where we feel there is a lot of potential in the short-term because we expect few positive news on companies front, which will rerate the stock and the stock should go and test that Rs 190-200 mark in the short-term. However, one should maintain a strict stop loss on closing basis for this particular stock at around Rs 174 levels.

I am going long on Hexaware Technologies for a target of close to Rs 120 with a closing stop of Rs 105. We feel Hexaware in days to come would be significantly rerated from current levels and another 10-15 percent can be made in a very short-term span. So a swing trading call from our side.

Karnataka Bank is one stock which we have recommended around Rs 90 mark where we again upgraded this particular stock at around Rs 120 mark. Now with the buzz getting stronger above that the company will be either merged or taken over by one of the leading private banks, we feel the ratio should be effective around an approximate price of Rs 200-220. So there is a potential upside on this particular stock. On technical basis the stock still it reaches Rs 137 odd mark has not looked weak on charts. So it becomes buy-on-dips candidate from short-term perspective.