Chandan Taparia of Motilal Oswal Securities told CNBC-TV18, "We have seen buying interest in most of the IT companies even after the selling pressure of broader market."
"We have positive view on Tata Consultancy Services (TCS). The stock is all set to give the fresh breakout from a positive price pattern; there is a flag on the daily chart. So, recommending to buy with a stop loss of Rs 2,730 on holding basis for an upside target towards Rs 2,880 levels."
"Second trade from the metals is Jindal Steel & Power. After a long time it has managed to surpass Rs 170-171 and added built up of long position by around 4-5 percent. We have seen jump in the volume with price in the delivery volume that also suggests this momentum could continue. So one can buy with a stop loss of Rs 167. The stock has potential to head towards Rs 180-181 levels," he said.
"Last trade I am recommending is on Yes Bank. The stock is making lower top, lower bottom. Overall structure is negative and holding below Rs 303-302 may see the decline towards Rs 295 and lower levels. So, here I am recommending to buy 300 Put with stop loss of Rs 4 and if the stock declines, then this Put can move towards Rs 13-14," he added.
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