Mitesh Thacker of miteshthacker.com told CNBC-TV18, "To me UltraTech Cement
and Ambuja Cements
are two interesting stocks, the set up is very similar that they are looking extremely oversold close to minimum support level and trying to bounce back on that. If UltraTech starts getting past levels of Rs 3,550-3,560 today, I would keep it on the radar for a one-two day kind of buy; Rs 3,650 to about Rs 3,675 is the set up target, which I would look for on the upside. Similarly, Ambuja has bounced back from very strong long-term support of Rs 190. It should remain above Rs 202, so that being the stop loss, I would buy this, one for targets of around Rs 216 or so."
"We do have few long calls. Pharma stocks are doing well. Lupin
is clearly past that level of Rs 1,510-1,525 which is not able to cross convincingly. So, I would recommend a buy here with a stop loss below Rs 1,529 for targets of Rs 1,575," he said.
" Pidilite Industries
is also showing good traction on the intraday charts. So that is a buy with a stop loss at Rs 622 and look for targets close to about Rs 660."