Buy Punjab National Bank, Maruti Suzuki, Jain Irrigation Systems: Rahul Shah

Rahul Shah of Motilal Oswal told CNBC-TV18, "PSU banks have seen a fantastic rally in last 6-7 sessions and I think it will continue. In that space, Punjab National Bank (PNB) post results has been just languishing over the levels of Rs 205-206 levels. This stock has given a fresh breakout, plus longs have added and good open interest in F&O. I would buy PNB with a stop loss of Rs 197 and target of Rs 220."

"Maruti Suzuki is at lifetime high today, so I think again Maruti could be one stock which can go to much higher from here. So, I would buy Maruti with a stop loss of Rs 8,225 for target of Rs 8,560."

"Third is Jain Irrigation Systems, again at 52-week high and this stock again can go higher to Rs 116 odd levels. I would buy Jain Irrigation with a stop loss of Rs 107.50 for target of Rs 116," he said.

At 12:55 hrs Punjab National Bank was quoting at Rs 205.15, down Rs 2.15, or 1.04 percent. It has touched an intraday high of Rs 207.30 and an intraday low of Rs 203.20.