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Last Updated : Oct 26, 2012 11:47 AM IST | Source: CNBC-TV18

Buy Redington, Exide Industries, short Asian Paints: Joshi

In CNBC-TV18's popular show Bull's Eye, Sharmila Joshi, sharmilajoshi.com shares trading strategy of the day.


In CNBC-TV18's popular show Bull's Eye, Sharmila Joshi, sharmilajoshi.com shares trading strategy of the day.


Punjab National Bank numbers are expected and we are seeing a sell off in the stock on the back of weaker than expected numbers. Non performing assets (NPA) is supposed to the worry here. So while the stock may not fall too much, ahead of numbers we are likely to see a fall in the stock, so a day target of Rs 785.


Redington (India) is a buy with a target of Rs 85 and stop loss at Rs 80. It is a good quality midcap kind of IT play where they have the marketing rights for whole host of good products that are used across right from the Apple products to Blackberry etc. We are expecting a good set of numbers from Redington on Monday. Buying has started in the stock ahead of the numbers.


Exide Industries is a buy with a target of Rs 145 and stop loss at Rs 139. We have seen a steep sell off in the stock after what was actually a good set of numbers. Possibly there was bit of disappointment in the numbers but largely it was more around profit booking, which seems to have kind of tapered off. So I expect the stock to recover and go back to Rs 160-162 kind of levels. This is a stock I would buy for the day with a target of Rs 145.

Fourth is a short call on Asian Paints with target of Rs 3870 and stop loss at Rs 3930. The Asian Paints futures are down about two-tenths of a percent or so.



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First Published on Oct 26, 2012 11:45 am
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