Chandan Taparia of Motilal Oswal Securities told CNBC-TV18, "We have positive view on selective NBFC and the finance companies. First trade is buy on Shriram Transport Finance. This stock has bottomed out with multiple support of Rs 965. Yesterday it added open interest near to 14-15 percent with positive price action. So, it looks quite strong for an up move towards Rs 1,075. One can buy with a stop loss of Rs 999."
"Second trade is buy on Titan Company. The stock has been consolidating in a range for last 40 trading sessions. It has given the highest daily close in last 40 trading session and all set to give the fresh breakout to retest the recent high. So, expecting this stock to head towards Rs 568. One can buy with a stop loss of Rs 538."
"The last trade is buy on ONGC. We have seen short covering momentum in the counter. Its open interest fell down by 5 percent with positive price trends. The stock has surpassed its 50-day moving average and given the reversal pattern on the weekly and the monthly chart. So, expecting a sharp short covering towards Rs 175-177 level. So, one can trade with option route. One can buy 170 Call with a stop loss of Rs 2 and this option can double to Rs 8-9," he added.
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