Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "The trade is still on the long side because individual stocks are doing rather well. In the auto space my suggestion in the morning was to go for Maruti Suzuki. This stock is a good idea even now for an intraday trader and Eicher Motors which is the biggest gainer was not my top choice and that happens. For my trades there are three buying ideas –UPL, Bajaj Finance and Reliance Industries."
"Reliance seems to be coming out and going towards Rs 1,000 and maybe willing to inch higher. So, all the three trades should be taken as day trades; don’t overstay your welcome."
"Idea Cellular charts are giving us a sense of a short term uptrend. My problem is that given a choice I keep on preferring Bharti Airtel where the rallies would be stronger and probably more stable. Both stocks are worth buying into for short term trading today but Bharti is the preferred choice," he added.
Disclosure: Reliance Industries owns Network 18 that publishes Moneycontrol.com.