Buy Indiabulls Real Estate, Orchid Chemicals, RCF: Tater
In CNBC-TV18's popular show Bull's Eye, Aashish Tater of FortuneWizard.com shares trading strategy of the day.
October 11, 2012 / 12:11 IST
In CNBC-TV18's popular show Bull's Eye, Aashish Tater of FortuneWizard.com shares trading strategy of the day.
I am going long on Indiabulls Real Estate for a target of Rs 64 with a closing stop of Rs 57. IB Real’s news of some involvement into some alleged scam, we think this stock got over reacted and now with Rs 57.65 being made a bottom the stock would again make a strong up move and momentum it was in. thus one can go long on this particular stock with Rs 57 as a notional stop loss from next one month perspective where we have a target of at least Rs 70-75.I am going long on Orchid Chemicals. Orchid Chemicals tested a very interesting pattern and did not close below the significant level. Go long on this particular stock for an intraday target of Rs 122 with a stop loss of Rs 109. If the stock closes below Rs 112.65 during the end of the day, it’s even better to close the positional trade on this stock.I am going long on Rashtriya Chemicals and Fertilisers (RCF) for a target of close to Rs 60 with a closing stop of around Rs 53.50. Pantaloon is a short from my side. Pantaloon Retail for a target of close to Rs 180 odd mark with a closing stop of around Rs 193.25 the stock has made a bearish engulfing pattern and thus my technical team suggests the stock could test Rs 178-180 zone from next two days perspective. We have been maintaining a sell call on this stock right from the Rs 207 break and now with this stock coming to the last moment of correction we feel even in today’s trade the stock could go and test 5-6% correction from where the bounce back is possible. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
