Amit Gupta of ICICIdirect is of the view that one can buy Eicher Motors and SRF while Nestle India is likely to test Rs 8600.
Amit Gupta of ICICIdirect told CNBC-TV18, "Go long in Eicher Motors and to hedge your positions, go short in Nifty. The price ratio of Eicher Motors to Nifty has started moving up; from Rs 2.78 it can move towards Rs 3 which can benefit this strategy."
"SRF is moving towards Rs 2,200; another 10 percent is due in the stock and you should have this stock in your portfolio even in this range bound market."
may go sideways for one or two sessions, it can decline a bit but eventually Rs 8,600 kind of target is very much on the cards," he said.