Chandan Taparia of Motilal Oswal Securities is of the view that one can buy KPIT Technologies, Grasim Industries and Axis Bank.
Chandan Taparia of Motilal Oswal Securities told CNBC-TV18, "We are positive on the selective IT counters. We have buy on KPIT Technologies, the stock has formed a trainable pattern on the daily chart. It has given a breakout with the price volume which indicates their up move could extent. So, recommending to buy with a stop loss of Rs 174 and looking for a targets towards Rs 192."
"Second trade is buy on Grasim Industries. The stock has recently completed a harmonic pattern that is called bullish AB is equal to CD. It has taken multiple support near to Rs 1,130 Rs 1,110 zone and now giving a consolidation breakout, so expecting a further move towards Rs 1,225 one can buy with a stop loss of Rs 1,135."
"Third trade is buy on Axis Bank, however Bank Nifty is quite nervous, you have seen selling pressure in selective PSU Banks. Axis Bank is the only counter which is outperforming and has given a consolidation breakout, so expecting the stock to head towards Rs 590. One can buy with a stop loss of Rs 550."