Buy Apollo Tyre, Ashok Leyland, Bharati Ship: Aashish 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 Apollo Tyres for a target of close to Rs 94 with a closing stop of around Rs 86. We feel this particular stock has got good potential given that the market is under pinning its estimates in terms of topline and bottomline where we feel it will beat the estimate by atleast 5-6 percent on consolidated front on topline and 6-7 percent on bottomline. So, this would be a very good bet in today’s trade.

I am going long on Ashok Leyland for a target of Rs 26 with a closing stop of around Rs 22. We feel the worst is almost over for this particular stock too and with other players in the sector getting re-rated it’s just matter of time that it will also show some trading momentum. Thus go long on this particular stock from short term perspective.

I am going long on Bharati Shipyard for a target of Rs 76 with a closing stop of around Rs 66. We feel the way Great Offshore has moved in yesterday’s trade it will take Bharati Shipyard, its parent in the same direction where a breakout would be visible somewhere around that Rs 78 zone. So, even 7-8 percent upside is still left even before the breakout zone, so at current levels it makes lot of sense to go long on this particular stock.

I am going to buy Great Offshore for a target of close to Rs 109 with a closing stop of around Rs 98. We have an eventual target of over Rs 120 on this particular stock with the same closing stop loss.