Buy IOC, Dewan Housing Finance, TCS: Chandan Taparia

Chandan Taparia of Motilal Oswal Securities told CNBC-TV18, "We have a positive view on most of the oil marketing companies. IOC, BPCL and HPCL have seen built up for long positions. We have seen significant jump in the delivery volumes. So, we are recommending to go long on Indian Oil Corporation (IOC) as per its price formation looking for a target of Rs 420 one can buy with a stop loss of Rs 388." 

"Second trade is buy on Dewan Housing Finance (DHFL). This stock is clearly making higher tops higher bottom formation and trading near to its life time high territory. We have seen significant jump in open interest activity, so expecting this momentum to continue towards Rs 410. One can buy with a stop loss of Rs 370,"  he added.

"Third trade is buy from the IT pack. Tata Consultancy Services (TCS) earlier was finding hurdle near to Rs 2,375 and recently it has taken support near to the previous hurdle zone, so putting a classical example of resistances becoming support. Here we are looking a bounce back move towards Rs 2,540 level. One can buy with a stop loss of Rs 2,370."