Chandan Taparia of Motilal Oswal told CNBC-TV18, "We have seen strong momentum in the Nifty auto Index and most of the auto as well as the auto ancillaries companies are likely to do well. I have selected to go long on Bharat Forge. The stock has surpassed immediate hurdle of Rs 712-715 and taken support at its 50-day exponential moving average. So, expecting a fresh leg of rally one can buy with a stop loss of Rs 712 for an upside target towards Rs 760-765."
"Second trade I have selected from NBFC segment is a buy on L&T Finance Holdings. After the correction of last 6-7 weeks, the stock has taken support near to Rs 160 zone. It has seen the positive divergence on the price and indicators."
"Given the consolidation breakout above Rs 173-174 zones, expecting a positive move led by short covering activity one can buy by putting stop loss of Rs 172 and the stock has potential to head towards Rs 185-186 levels," he said.
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