In CNBC-TV18's popular show Bull's Eye, Pankaj Jain of Sunteck Wealthmax shares his trading strategies for the day.
One can go long in Vivimed Labs. The stock has been moving with smart volumes for last five-seven trading days. The kind of volume breakout that has been seen in the stock in last couple of days, we believe that inspite of a day of correction it could be an outperforming stock.
One can go long in Pennar Industries. The kind of volumes that have been seen in the stock in last three-four days and the kind of products the company is manufacturing and a good stronger midcaps stories been latched on the market, we believe this stock has the potential to move another 20-25 percent in the coming weeks.
One can short Indiabulls Real Estate. It has been trading below all relevant moving averages and we believe that today being a day of correction this weakish kind of stock could face the hit. Taking poor technical and poor performance by this real estate stocks, we believe that IB Real Estate could be a strong candidate to go short for the day.
One can short Jaiprakash Associates. In this year of lifetime highs this stock is trading at 2014 lows and with it having been downgraded after stake sale or share sale by the management in open market and taking weakish kind of performance by the market today as background, we believe that this stock could be ideal candidate to go short for the day.
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