Buy Aurobindo Pharma, Ashok Leyland, Century Textiles: Gaurav Bissa

Gaurav Bissa of LKP Securities told CNBC-TV18, "The first recommendation would be a buy on Aurobindo Pharma. If you look at it for the last 5-7 trading sessions, there was a lot of short-coverings that we saw and it propelled the stock from Rs 725-730 zones to around Rs 760-765, the current market price. Now we are seeing open interest addition happening."

"It is a very strong resistance level of Rs 760-765 zone. So if you have a close around these levels, I would not be surprised with a 7-8 percent upmove coming next 3-4 trading sessions. For two days' trading per se, one can have a stop loss of Rs 755, go long in Aurobindo Pharma for Rs 790-795 kind of levels."

"Second would be a buy on Ashok Leyland. This is another name to see a lot of short-covering coming in. it was predominantly because 125 Call option had a very high concentration. For the last two months, it has been trying to gain grounds above Rs 125 and that has not been the case and it resulted in a good amount of short selling in 125 Call option. Now the next highest open interest is seen at Rs 130 levels and above Rs 130 it can even touch levels of Rs 137-138. So on that premise, one can have a stop loss of Rs 126.50, play for Rs 131-132 kind of levels for next 3-4 trading sessions."

"Final recommendation would be buy on Century Textiles. It is more of a technical call. The stock has been trading in a range. Rs 1,280 is a very strong support and is bouncing from those levels. So using that as a stop loss, one can play for Rs 1,325-1,330 kind of levels for the next 3-4 days," he added.