Buy Arvind, Bata, Bharti Airtel; sell Asian Paints: Taparia

Chandan Taparia of Anand Rathi Securities told CNBC-TV18, "Looking at the market movement we have selected couple of ideas which are now bottoming out and now turning from their support zones. First trade is a buy on Arvind. This stock has not performed in last many weeks but now started to witness buying interest. Recently, it made bottom near to Rs 302 and all set to move towards Rs 320-325 levels. So, recommending to buy with a stop loss of Rs 307 for higher targets." "Second is a buy on Bata India. The stock has formed a positive price pattern and also made a double bottom near Rs 522-525 kind of zone. It is all set to surpass immediate hurdle of Rs 550 and above that it can start the next move towards Rs 550. We have seen built up of long positions and now the fresh short covering may continue to trigger the stock to higher levels. So, recommending to buy with a stop loss of Rs 535," he said."We have positive sense on the Bank Nifty. Today Bank Nifty had reclaimed 52-week high and I think this momentum may continue. ICICI Bank had made bottom near Rs 240 zone and it has been moving upwards with open interest addition. So, I will suggest buying 250 Call of this series near to Rs 5 keeping a stop loss of Rs 2. I am expecting this call to double to Rs 10." "Other trading idea is a buy on Bharti Airtel. After the weakness of last four weeks, the stock is now finding support. It has turned from the lower band of the trading zone. We are expecting it to move towards Rs 365. One can buy with a stop loss of Rs 344." "Last trading idea that is a sell on Asian Paints. The medium-term trend is positive but on immediate basis, I am expecting a profit booking decline which may take the stock to Rs 1,075. It has broken the weekly support of Rs 1,135 zone, so weakness may continue. A profit booking decline cannot be ruled out. So, expecting the stock to go down. Keep the stop loss of Rs 1,140 and trade for downside target of Rs 1,075."