Buy Larsen and Toubro, Zee Entertainment; Reliance Industries to move higher: Chandan Taparia,

Chandan Taparia, Derivative & Technical Analyst, Motilal Oswal Securities told CNBC-TV18, "Talking about the stock specifics action we have positive view on the Larsen & Toubro (L&T). The stock has been consolidating in a range from last 12-13 trading session, but significant Put writing as well as delivery volume is being witnessed in the counter. It has formed a bullish flag pattern and that is why looking for a target of Rs 1,600. So, recommending to buy with a small stop loss of Rs 1,546 for the upside target."

"Second trade is buy on Zee Entertainment. In the entire series, we have seen highest rollover in the media sector and Zee Entertainment also has given the consolidation breakout and has managed to surpass immediate hurdle of Rs 525-528 zone and holding above the same. We have seen rollover of near to 75-78 percent. It also indicates the positive sentiment of the counter. So, recommending to buy with a stop loss of Rs 524 for the upside target of Rs 550," he said.

"The last strategy will be on Reliance Industries, I think the stock has met immediate bottom near to Rs 1,245-1,250 zone and all set to hit towards the Rs 1,300-1,330 kind of levels. So, traders can go for the Bull Call Spread or the Call Ladder strategy. In that we are expecting this rally to continue on the higher side."

Disclosure: Reliance Industries owns Network 18 that publishes Moneycontrol.com.