Buy Engineers India, Jubilant Foodworks; sell Tata Steel: Gaurav Bissa

Gaurav Bissa of LKP Securities told CNBC-TV18, "My first recommendation would be buy on Engineers India (EIL) futures. We have seen the stock coming out of a range, good amount of long positions are seen getting built. It can test levels of Rs 160, one can have a stop loss of Rs 151 and be long in the name."

"Second would be buy on Jubilant Foodworks. The stock has seen good amount of short positions. There is some exhaustion that is seen near, it is near the support levels. A bounce back till Rs 1,060-1,080 cannot be ruled out. With a stop loss of Rs 1,015 one can go long on Jubilant Food futures," he said.

"Final recommendation would be sell on Tata Steel. It has been trading in a range; Rs 495 is the immediate resistance. Using that as a stop loss, one can go short for immediate target of Rs 480."