In CNBC-TV18's popular show Bull's Eye, Prakash Diwan of Altamount Capital Management shares his trading strategies for the day.
One may buy Mercator. The stock has come up with stellar set of numbers, so it should be a good trade for the day with a target price of Rs 19.60 and stoploss of Rs 18.25.
One may go long in Power Grid Corporation of India with the positive news flow around this fairly robust stock; it sits on a very strong position as far as fundamentals are concerned. This stock would ride today on the back of 30 percent hike for foreign institutional investors (FII) holding.
One may go long in Balkrishna Industries. It has done extremely well for itself in the quarter apart from the fact that tyre as a segment is going up quite well. We look at Balkrishna Industries to do well in the day with a target price of Rs 341.50 with a stoploss of Rs 321.50.
One may buy Escorts. Robust tractor sales and with decent traction, I would believe that Escorts has seen some significant accumulation at lower levels and is ready for a breakout. This could also help the company move into a slightly higher rating in terms of its peer group. Look at Escorts with a target price of Rs 129.50, keeping a stoploss at Rs 122.50.
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