Sell Tata Motors, BHEL: Lancelot D Cunha

In CNBC-TV18's popular show Bull's Eye, Lancelot D Cunha, Sharyans Wealth management shares trading strategy of the day.

Buy Bharti Airtel with a target price of Rs 264 and a stop loss of Rs 253. Bharti Airtel has been moving down on near term fears. The stock has seen considerable correction. However, I think all the near term fears have been factored into the price and over the last few sessions we have seen an upward move. Technically it has also broken out so I expect the upper momentum to continue and to hit its target price of Rs 264.
Buy Phoenix Mills. Phoenix had sold off on negative news regarding the 5% additional VAT payable on all old agreements. However, recently there was a court judgment reducing that to a maximum of 2% and that could be the potential liability so the stock has rebounded on the basis of the positive news for the company. I see this trend continuing and the momentum moving the stock up to its target price of Rs 182.
Sell Tata Motors. Tata Motors has technically broken down below and given a sell signal. Although, I feel that long term this company looks promising in terms of an investment valuation. On the short term because of the momentum being negative, I see that the stock could go down further and could actually hit the target price of Rs 220.
Sell BHEL. BHEL also has sold off on the fact that with the economy slowing down we are seeing a drop in the order book build up and with the uncertainty about the government on the infrastructure space and the power space this could lead to further reduction in the order values.