Panda told CNBC-TV18, "If you see after the news on the gas production and all that below expectations. Yes, some short positions have build up in the morning, but we believe Rs 800- 805 will be a very strong support and the market will close certainly much above that, but then with that as a stop loss we are recommending Reliance to buy for expiry or even for March position because we believe the long positions will hold on and the rollover will be strong enough. The short position, which is initial more of a trading kind of on Reliance."
He further added, "On Tata Motors, the volatility has been there, but we believe Tata Motors will continue to remain volatile, but having said that the numbers, which will come again this month we expect that Tata Motors will be able to deliver the expectations. So, again we are going long on that side. We believe the high beta sector will bounce back, so these are the two stocks."
