Expect 10% rally in ONGC, says Vayalar

Vayalar told CNBC-TV18, "After the Nifty crossed 5280, we are seeing good money which is coming into the large caps and we feel the index has managed very effectively. I feel the top pick here is ONGC. It is somewhere close to a Rs 280. Keep a stop loss of Rs 272 and we are expecting 10% at least so Rs 308 on that."

He further added, " NTPC is trading at Rs 170 and Rs 164 should be a decent stop loss. We expect Rs 180 on that. If it is a trading call one can definitely buy a Hindalco Industries . We are buying a Rs 120 call option which should be around Rs 4.5-5 keeping a stop loss of Rs 2 and expecting Rs 11 on that."