Kiran Jadhav of KiranJadhav.com recommends buying Mortherson Sumi Systems, Bharat Forge and Steel Authority of India.
Kiran Jadhav of KiranJadhav.com told CNBC-TV18, "I like Motherson Sumi Systems, strong volumes along with that the derivative data is also pretty strong. We believe that Motherson Sumi should be bought right now. Stop loss would be Rs 388 or 389 because the stock has moved up higher and we have a first target of Rs 400. We believe that Rs 400 will be only the first target and expect the stock to even move up further from these levels."
"Second stock that we like is Bharat Forge, It has a very good chart pattern. The stock has broken important resistances at around Rs 711-712 which was bothering the stock for the last one and a half months. This comes with very strong volumes which gives a strong breakout. Stop loss right now will be Rs 717 and we will have a target of Rs 737 which should be achieved by tomorrow," he said.
"The third stock is Steel Authority of India (SAIL) which has been consolidating for the last couple of months and we are at the higher end. The kind of volume and the open interest additions that we are seeing, we believe that the stock will give a breakout very soon. The breakout level is Rs 84 and the target then would be Rs 104-106. For now with a very extreme short-term view of one or two days, we believe that Rs 81 should be the stop loss while Rs 87 should be the target."
"Jet Airways has very strong volumes, open interest addition is about 13 percent which is commendable and the way this stock is moving up after a small correction that it did at the fag end of November, I believe that we are heading towards greater high in the days to come."