Buy Mangalore Chem, Edelweiss, Prestige Estates: Tulsian

In CNBC-TV18's popular show Bull's Eye, SP Tulsian of sptulsian.com shares his trading strategies for the day.

One can buy Mangalore Chemicals with a day target of Rs 45.50 and stop loss of Rs 42. It is expected that UB Group is likely to sell their residual stake of about 22 percent in the company to a strategic investor and the valuation talked about is over Rs 60 per share. Because of this we have been seeing the informed buying in the stock for last three-four days. This trend is likely to continue in the near-term and hence a buy call.
One can buy Edelweiss Financial with a day target of Rs 33.50 and stop loss of Rs 31. The company has expressed their willingness to apply for bank license. We have been seeing the value buying taking place in the stock for last two days and this is likely to continue in the near-term as well and hence a buy call.
One can buy Madras Cement with a day target of Rs 226 and stop loss of Rs 214. This stock has corrected to a level of around Rs 210 and on Tuesday we have seen the buying resuming at those levels. The buying is likely to continue which can make the stock to move upward for next one week or so and hence a buy call.
One can buy Prestige Estates with a day target of Rs 154 and stop loss of Rs 142. This is a prominent and one of the largest real estate company in South India and the kind of corrections which we have seen in realty stocks makes a good value buy into the stock.