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Mar 16, 2017 04:38 PM IST | Source: CNBC-TV18

Buy Bank of Baroda, Tata Steel, Reliance Capital: CA Rudramurthy BV

CA Rudramurthy BV of Vachana Investments recommends buying Bank of Baroda, Tata Steel and Reliance Capital.

CA Rudramurthy BV of Vachana Investments told CNBC-TV18, "I have three long calls. Bank of Baroda looks very strong, Rs 162 has been the breakout level, above which it is easily trading on the long side. A lot of open interest addition is seen not only during the current month, but also for the next month. Bank of Baroda can head towards levels closer to Rs 180, one can have a stop loss at Rs 165 and go long."

"Tata Steel looks very strong to me. Today it has given a clear breakout, again a lot of open interest addition with delivery based buying is also seen in Tata Steel. Short term, medium term and long term trends are all on the positive side. One can definitely look at immediate target of Rs 505 on Tata Steel, have a stop loss of Rs 485 on this long trade," he added.

"I have a buy call on Reliance Capital. Again this stock has added lot of open interest today and has given a breakout above levels of Rs 570. Keep a stop loss at Rs 565 and look at target of Rs 595."

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