Chandan Taparia of Motilal Oswal Securities told CNBC-TV18, "First trade is buy on Manappuram Finance. This stock has given a multiple year breakout and has been making higher top higher bottom formation. It has seen the significant jump in the trading as well as the delivery volume, so, recommending to buy with a stop loss of Rs 103.50 and expecting this stock to rally towards Rs 115."
"Second trade is buy on State Bank of India (SBI). PSU banks has seen some buying interest in last couple of trading sessions and SBI has given the highest daily close and some Put writing at Rs 290-295 strike might take it to higher levels. It has surpassed the immediate hurdle on the closing basis, so, expecting this stock rally towards Rs 307. One can buy with a stop loss of Rs 288," he said.
"Third trade is from the auto pack. Maruti Suzuki and Tata Motors are likely to perform but here in terms of risk reward ratio, I have picked Tata Motors. One can buy with a stop loss of Rs 455 for an upside target of Rs 485. This stock has given a breakout from its falling supply trend line and formed an inverse head and shoulder."
"ACC and Ambuja Cements have done well and specifically talking about ACC, the stock has recently taken support at earlier breakout. After the decline of last four trading session, it has taken support near to Rs 1,690-1,700 zones and all longs are intact. In this entire expiry, the stock is up by 8-9 percent and trading above its volume weight average. So expecting this stock to rally towards Rs 1,800 to retest the recent highs."
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