Buy Bajaj Auto, JSW Steel, Tata Power: Rahul Shah

Rahul Shah of Motilal Oswal told CNBC-TV18, "Way the market has setup, two sectors have been outperforming, one is auto and metals which we have seen renewed interest continuing. So I have two stocks ideas from that space."

"We have seen auto index as a whole doing quite well and a few select stocks we have seen longs added. So, in that space I like Bajaj Auto. So I would buy it with a stop loss of Rs 3,110 for target of Rs 3,230."

"Metal has been doing quite well and again metal index has been one of the best performing in last couple of months. So in that space, JSW Steel is my top idea. So I would buy JSW Steel with a stop loss of Rs 253 for target of Rs 275," he said.

"In Tata Power, we have seen some longs building up and the stock consolidating from Rs 77 to Rs 85 levels. So, I would buy it with a stop loss of Rs 79 for target of Rs 85," he added.