Bull's Eye: Short ONGC, United Spirits, buy Rolta, GMDC

Bull's Eye, CNBC-TV18's popular game show, where market experts come together to dish out trading strategies for  you to make your week more exciting and compete with each other to see whose portfolio is the strongest.

Remember these are midcap ideas not just for the day, but stocks that look attractive in the medium-term as well.
This week, Ashish Kapur of Investshoppe, Nooresh Merani of AMSEC Securities and Pankaj Jain of Sunteck Wealthmax battle it out for top honours.
Below their top stock picks and analysis: Ashish Kapur of Investshoppe
One can short United Spirits with a target of Rs 524 and a stop loss of Rs 580. The logic for doing this is simple, the markets are likely to remain sideways and it's going to be a very stock specific movement going ahead. So the safe way of playing is to go short on stocks where the news development is likely to remain negative and where the fundamentals are weak. United Spirits fits in both the ways. The company reported very lack luster performance in the previous quarter. There was deception in activities in West Bengal and Tamil Nadu.
One can short ONGC. The target is at Rs 270 and a stop loss at Rs 296. Here again the news flow is fairly negative hence we can expect some selling pressure to continue on this counter going ahead. Also the results were not impressive at all. There was a dip in oil production in many of their fields. Coupled with that on a sequential basis the subsidy nearly doubled. So fundamentally also there are lots of developments which are not encouraging and the news flow again here is negative.
One can take long call on Ambuja Cements with a target at Rs 175 and a stop loss at Rs 159.5. Ambuja along with some of the other cement players have played a very defensive role in the entire bear market, which has just got over. 25% of their sales come from the eastern region where the growth is likely to remain very robust. Also in February 2012 their cement production rose 11% compared to the same figure in February 2011. So the company is doing fairly well and likely to continue doing well going forward.
One can go long on Rolta India with target at Rs 111 and a stop loss at Rs 101.5. The logic here is that IT as a sector is fairly defensive. So in these uncertain times IT is a safe place to hide in. We expect the markets to remain sideways for some more time. Rolta is changing its model from being a service company to solutions provider. It's likely to improve its margins going forward. We expect re-rating in this stock to continue.

_PAGEBREAK_ Nooresh Merani of AMSEC Securities
One can buy GMDC. Maintaining my bullish stance on the stock I would expect a target price of Rs 220 in the short term and much more higher in the medium term. I would keep a stop loss at Rs 197 on closing basis for the street. On a medium term timeframe I would accumulate the stock at every level between Rs 190-210.
One can buy Bharat Electronics (BEL). I continue to remain bullish on the stock with a target price of Rs 1750 and a stop loss to be placed at Rs 1530. The stock is consolidating around the Rs 1600 resistance levels. The stock should perform over the next 2-3 weeks.
One can buy Dr Reddys Lab with a target price of Rs 1800 and a stop loss at Rs 1600. The stock has been facing a lot of resistance around Rs 1700 over the last few months. It has made quite a few attempts and yesterday the stock inched up higher towards Rs 1680 levels indicating that the stock would make a new attempt at crossing Rs 1700 levels.
One can buy Coromandel International with a target price of Rs 300 and a stop loss to be placed at Rs 282. This is a quick trade with a view of 2-3 days and the stock has given a breakout yesterday. The volumes have been supporting, so indicates the momentum to continue over the next 2-3 sessions.
_PAGEBREAK_ Pankaj Jain of Sunteck Wealthmax
Amtek Auto is my first long call. Basically what we have been seeing for last couple of days, we have seen stronger accumulation in good quality auto ancillary stocks and Amtek Auto is one of them. The kind of dispatches we have seen in automobile numbers, Amtek Auto being one of the front running supplier to Maruti and even the results working of the company has been improving. What we see in today