Chandan Taparia of Motilal Oswal Securities told CNBC-TV18, "We have positive view on selective metal, NBFCs and private banks counter, so likely to trade on the same."
"We have a buy on NMDC. The stock has been making higher top-higher bottom formation. It has surpassed immediate hurdle of Rs 134-135. Headed open interest near 6-7 percent, so recommending to buy with a stop loss of Rs 133 for an upside target towards Rs 145."
"The second trade from the private bank is IndusInd Bank. This stock is continuously moving upwards, major trend is positive; recently consolidation breakout has given more momentum to the stock, so expecting to rally towards Rs 1,770. One can buy with a stop loss of Rs 1,665."
"Third trade is Eicher Motors. This stock has seen a breakout on the daily, weekly and monthly chart. In the last three-four trading sessions it had open interest near 10-12 percent which is significant in terms of number and quantity. So this stock can even rally to higher levels. Therefore, recommending to buy with a stop loss of Rs 32,200 for an upside target towards Rs 34,000," he siad.
"We have positive view on most of the metal companies. Hindalco Industries is near to its lifetime high it made in 2011, so a fresh leg of rally cannot be ruled out in the counter. We have seen significant built-up of long position. Our rolls are rolling from series-to-series with positive roll cost, significant Put writing also suggest a positive view. So I am expecting a move towards 260. One can trade with bull call spread by buying 250 Call and selling 260 Call."
"In the entire study the risk is near to 3.75 and reward is near to 6.25. So 1:1.75 risk reward ratio and the stock is likely to move towards Rs 260 zones in next couple of trading sessions."
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