Buy Karnataka Bank, Future Retail & GTL: SP 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 Karnataka Bank with a day target of Rs 124 and stop loss of Rs 114. The correction in the stock price seen on Friday has happened with low volume which gives an opportunity to buy this stock because fundamentals are very much in tact with FY13 earnings per share seen at Rs 18 and 600 branches of bank which may be seeing the renewed buying and short covering and hence a buy call.

One can buy Future Retail with a day target of Rs 106 and stop loss of Rs 96. This stock also corrected steeply on Friday after its restructuring which was unjustified and now it is expected that the value buying is likely to emerge at lower level coupled with short covering and hence a buy call.
One can buy GTL with a day target of Rs 18 and stop loss of Rs 16.25. On Friday we have seen buying taking place in the stock on hopes of some big corporate developments happening in the stock and as such the stock is ruling at almost its 52 week low and this buying is likely to continue for some more time and hence a buy call.
One can buy Mercator with a day target of Rs 14 and stop loss of Rs 12.25. The company has posted cash profit of Rs 43 crore for FY13 which has been earned after providing an exceptional item of Rs 156 crore for early termination of the contract of three vessels which are now likely to get deployed by its Singapore subsidiary at better rates and terms in the future and this is seem to be positive by the market and the stock is also ruling almost at its 52 week low and now the buying is likely to continue from hereon and hence a buy call.