Buy L&T, Dabur India; short Karnataka Bank: Saurabh Mittal

In CNBC-TV18's popular show Bull's Eye, Saurabh Mittal, Swadeshi Credits shares trading strategy of the day.

Buy Larsen and Toubro (L&T). The stock has shown decent movement even in a down market and the results have been very good. They came out a couple of days back and the guidance seems to be very good, the margins have improved and L&T should do well in this new series as well.

Buy Dabur India with a target of Rs 140. It has shown strength with the FMCG group as a whole doing very well and it is one of the premier companies in this sector and I think in the next few sessions you will see Dabur going to new highs.

Buy Mahindra and Mahindra (M&M) with a target of Rs 880. Its results came out yesterday and they were better than expected. There margins have gone up, net profit has gone up by over 22 percent and profit of Rs 902 crore. The stock did react on the upside yesterday and I think that positiveness should continue.

Short Karnataka Bank. This is a contrarian call. The stock has been strong but I think it has been over bought and the stock should see some downside and some profit taking. So it is not really a negative call on the stock but just a negative for the day. I hope there will be some profit booking and it is just a hedge against my other three calls.