Buy Ajanta Pharma, Havells India, Tata Elxsi: Ashish Kyal

Ashish Kyal of wavesstrategy.com told CNBC-TV18, "The first buy is on Ajanta Pharma. This stock has managed to form an important pivot low around Rs 1,100 and bounced back from there smartly. It is also on the verge of crossing above 50-days' average. So I think the short-term trend at least has reversed in this stock and there is more upside left. So one can buy Ajanta Pharma with a stop loss of Rs 1,265 and the target can be expected at Rs 1,385 on the upside.""The next stock on the buy side is Havells India. This stock has managed to form higher highs and higher lows and has protected its previous low near Rs 240 levels very significantly when the markets were cracking. So it indicates that there is a strong outperformance from this stock, which might come in now and one can buy it with a stop loss of Rs 294 and the target can be expected at Rs 331," he said."The third stock is a buy on Tata Elxsi. This has been a strong outperformer and it is close to the 52-week high. It has already rallied by 30 percent as of now from the lows. I think there is more potential for it to go up and the momentum is very strong. So this can be the third wave of upside in Tata Elxsi and it will do wonders if I am right. One can buy with a stop loss of Rs 2,240 and the target in the short-term can be Rs 2,540 but if that level is taken out then further upside is possible in it."