Sudarshan Sukhani of s2analytics.com is of the view that one can buy BPCL and Manappuram Finance and hold Maruti Suzuki while one can sell Just Dial and Tata Chemicals.
Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Mainly midcaps are on the buy side. The first is BPCL - BPCL and HPCL are both in their own bull markets. They go through sharp and severe corrections and then they resume their up moves. So BPCL is now resuming its up move after a minor dip."
"The second is Manappuram Finance. Manappuram is a very volatile stock, we saw it at Rs 86, just a few days ago and then a strong rally started. However, the larger trend is still up in Manappuram, it is an NBFC, it is one of the favourite sectors. So, at current level, Manappuram is resuming its upward move and is a buying opportunity. Both long positions can be carried for the day, not necessarily stay intraday. Short positions should be cut during the day. We do not carry overnight short positions," he said.
"There is one sell which is Tata Chemicals. There is a mild correction going on there and some money can be made on the short side if you exit by the end of the day."