Yogesh Mehta of Motilal Oswal told CNBC-TV18, "The fantastic rally we have seen in July and May will continue for August as well with progressing good monsoon. So, we believe that quite a few stocks can be a good mover from here, like ACC where it is quoting at Rs 1750, stock has corrected from Rs 1790 post results and then to Rs 1700. So, Rs 1750 is the stock price in August Futures and we are looking at Rs 1800 as the price target keeping Rs 1725 as the stop loss."
"The other one would be IndusInd Bank. The stock was languishing for quite some time between Rs 1570 and Rs 1530 level. So, Rs 1625 is the August series price currently. We can look at going long in IndusInd Bank Futures position keeping Rs 1605 as near term stop loss and target would be Rs 1670," he said.
"Third one which we are looking on going long is Zee Entertainment; Rs 490-495 was the consolidation level for this series throughout and post result we have seen correction. So, Rs 525-527 remains a strong support level for this stock. Currently Rs 540 is the price for August. We are looking at Rs 527 as the stop loss but target would be around Rs 565-570 levels," he said.
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