Manoj Murlidharan of Religare Securities told CNBC-TV18, "We are looking at lot of stocks and we believe that because of strengthening rupee there will be a volume-weighted average price (VWAP) concept which would flame. So we are looking at those stocks where there is rollover in terms of open interest which has to be rolled."
"A couple of stocks where the cash buying that is delivery and open interest might club in for a good buy. I will go with UPL because there is a good VWAP buy which has happened, Rs 826 would be a preferred level, should buy with a stop loss of Rs 818 and we are expecting move close to Rs 852-853 on that. So, that might be a VWAP close for the day as well."
"Tata Chemicals - we advocate buying somewhere close to Rs 655, stop loss as Rs 647 and target of Rs 666."
"In autos we like TVS Motor Company - this is one stock where fresh buying is coming in, so somewhere close to Rs 498-500 we recommend buying that with a stop loss around Rs 488 and levels close to Rs 532,""he said.
"IDFC at Rs 58.50 is a buy with Rs 57 as a stop loss and a good VWAP of Rs 61.8 roughly - that should be the breakeven, we might see in today's trade as well."
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
