Buy JSW Steel, Dewan Housing Finance; short Biocon: Rahul Shah

Rahul Shah of Motilal Oswal told CNBC-TV18, "Metals in last couple of sessions has been the star performer and I see it continuing to do well. I have seen JSW Steel and Tata Steel at 52-week highs, and also Hindalco Industries at 52 week high. So, I still feel that metals will continue to show some more momentum from here. In that space, I like JSW Steel. Technically also the stock has come out from the normal trading zone and into new zone right now and longs also have added in futures in last two sessions. So, I would buy JSW Steel with a stop loss of Rs 234 and target of Rs 255."

"Housing finance again has also been in flavour since last couple of series. So, Dewan Housing (DHFL) is one of my favourite, it has been up 2 percent and with longs added with a good volume. On Friday also we saw decent momentum in the stock. So I would buy DHFL with a stop loss of Rs 455 and target of Rs 480."

"Third being a short sell idea. I think pharmaceutical has been an underperformer since last couple of series and in that space in Biocon some money can be made on short side. So, I would short Biocon with a stop loss of Rs 335 and target of Rs 315," he added.