Mitessh Thakkar of mitesshthakkar.com told CNBC-TV18, "Tata Motors' chart pattern doesn’t suggest a bigger reversal. It is slightly oversold and has been underperforming, it might do a catch up, but upside beyond Rs 395-400 look unlikely."
"So, my idea would be to wait for any up move in the market and try to exit around the Rs 400 mark. I think beyond that it is difficult. There is a chance in case something negative comes, the stock might decline to levels of about Rs 330-325 which would be excellent buying opportunity. In case those levels come earlier, I think you should look at averaging around that mark."
"I think Infosys should do well. The last time we saw the stock peak was close to about Rs 1,250 on May 16. However, I think that should be the price target around Rs 1,250 levels odd and I would not be really worried about it, I think we had a correction to about Rs 1,100 levels in February sometime and think that should be the bottom end of it."
"So, it might not do much, but the drift is more on the upside, so, chances of hitting the target on the upside are much brighter and much stronger. So I would try to book it around Rs 1,250 over the next two to three months."
"HDFC Bank has very strong support around Rs 1,740-1,720 zones. That is the medium to long term support area and in case it comes to those levels, it would be a good buy for people who trade with about 6-12 months perspective."
"On the upside, once we start getting past the recent highs of Rs 1,980-2,000, I think we can reasonably expect a price of Rs 2,300. So that will be my next few months’ kind of a range. Buying around Rs 1,750-1,740 is what I would recommend and trying to book around Rs 2,300 is what I have in mind," he added.
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