Buy NMDC, Cipla: Hemant Thukral

Hemant Thukral of Aditya Birla Money told CNBC-TV18, "The mood is not so bright, but still we have found two stocks where we have recommended buy. Both of them are from different sectors."

"Metal sector has seen some buying coming in off-late and we have seen all the largecap stocks participating. What we saw yesterday was how the rub off effect has started to happen in stocks like NMDC. NMDC has added 4 percent open interest on the long side. What was interesting was the cash volumes; 43 lakh shares have been traded which is double the average of five days, and not only that, 36 percent delivery has been marked which is highest in last three months. So, clearly buying is coming from both the sides, F&O and cash, and we expect now this buy momentum to continue. We are recommending with a stop loss of Rs 125 and expect Rs 134 as target."

"The second stock is from the pharmaceutical pack. Pharmaceutical though is struggling across the board, but Cipla in particular saw a lot of buying coming in yesterday; 12 percent open interest added up. Again for me the basic interest point was the way 570 Put writers got active. So, clearly that is the new base which Cipla is working with. So, we have maintained that stop loss at Rs 570 and a target of Rs 595," he said.