Hemant Thukral of Aditya Birla Money told CNBC-TV18, "The stocks that we have selected today are basically on the basis of open interest (OI) and the rollovers that they have already started seeing. One is Castrol India, this midcap has come out of range yesterday technically we feel. The level of Rs 438-450 was acting as a resistance. Now we feel it has come out on basis of 6 percent OI addition. Interestingly, the stock has already seen 34 percent positions getting rolled up and its six months average is 72. So I feel it will end up more than numbers and rollovers this time. So we expect the stock to continue this rally till Rs 460-465 and that would be our target and stop loss should be kept around Rs 438-440 levels."
"The second stock is a large cap - Maruti Suzuki. We feel that yesterday the way the rollovers are shaped up and another time it has added 5 percent of OI, we feel this rally will now take further steps from hereon and interestingly Maruti’s result is also due and before the result, the way the OI has added up, we feel that the stock is ready to go up to new levels of Rs 6,400 to Rs 6,450. It is already approaching its lifetime high of Rs 6350. So the stop loss that we will maintain is Rs 6,200. So Maruti and Castrol are looking very good for next two-three trading sessions," he said.
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