Buy Videocon Ind, Wipro, On Mobile: 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 Videocon Industries for a target of Rs 176.50 with a closing stop of Rs 168. The stock is vibrating between Rs 165 and Rs 180 levels. We feel with the news expectation of direct to home services getting muted. Even the company group as a foray in to this particular, expect the stock can get good trading momentum in today’s trade. I am going long on Wipro based on good expected results from this particular quarter – we feel that Wipro stock could go and test Rs 370 and Rs 380 from short term perspective. We are going on OnMobile with a closing stop of Rs 36 for a target of Rs 44 eventually. We feel the stock is vibrating in a broad range and given that it has taken a U turn again we feel the upper range of Rs 44 will be tested from short term perspective. I am going long on Apollo Tyre. We feel that Apollo Tyre numbers would be much higher than what the average consensus is and these are likely possibility of tyre companies raising prices by another 100 to 150 basis points. This would lead to a lot of improvement in terms of EBITDA margin. The input cost is falling down and the clearance from cartelization on CCI front this makes a good sense for the stock to go up.