Buy Yes Bank, Kaveri Seed; short Biocon: Rahul Shah

Rahul Shah, Associate VP, Equity Advisory Group of Motilal Oswal told CNBC-TV18, "Financials have been in the limelight today and a lot of financial stocks are up between 2-3 percent. In that space, my top pick is Yes Bank. We saw some selling happening on last couple of days, but I think there should be a short covering in Yes Bank and longs also to be added. So buy Yes Bank with a stop loss of Rs 1,758 and target of Rs 1,815."

"Second is Kaveri Seed. This stock we saw a deep correction from the highs of Rs 700 to lows of Rs 500 or so. Now again it is showing some kind of support at Rs 520 odd. So, I would buy Kaveri Seed with a stop loss of Rs 528 and target of Rs 585."

"Thirdly, I think we have been discussing pharmaceutical for quite some time. I think that sector continues to underperform and we believe that it will still go down from current level as well. So best way to play is to go short in those stocks. So, Biocon remains our top short idea. So we would short Biocon with a stop loss of Rs 352 and target of Rs 320."