Sell Oracle Financial, Rel Capital; buy BF Utilities: Jain

In CNBC-TV18's popular show Bull's Eye, Pankaj Jain of Sunteck Wealthmax shares his trading strategies for the day.

Sell Oracle Financial Services. This stock has been steadily falling from levels closer to Rs 3300 in January to levels closer to Rs 2400 now. Company has fixed a price of Rs 2275 for offer for sale and this is sharply lower than the prevailing price. In last two-three trading days we have seen further volume breakdown in the stock which was anticipating that offer for sale price could be much lower than the prevailing price. Short Reliance Capital. What we were seeing in yesterdays trading session that most of the ADAG pack stocks were showing some kind of fatigue, some kind of profit booking that included Reliance Capital. Reliance Capital closed just a shade above its 20 DMA, it is on the verge of breaking 20 DMA and once it breaks that the fall could accelerate on the southern side. Long BF Utilities. What we are seeing in the stock for last 30-40 trading sessions stock had been consolidating at 20 DMA. Recent verdict in Karnataka whereby Karnataka gets a stable political scenario also aids the company. Long Tribhovandas Bhimji Zaveri (TBZ). Again with similar kind of credential even this stock had been consolidating around its 20-50 DMA overlapping 20-50 DMA for last about 45 days. The kind of momentum indictors which was seen at end of the day, we believe that stock could be headed much higher in coming days. Taking this factor into consideration we have gone long on TBZ with aggressive price target of Rs 267 for the day.