Chandan Taparia of Anand Rathi Securities told CNBC-TV18, "We have selective trading ideas to chase the market momentum. First trade is buy on Voltas. Recently, the stock has taken multiple supports near to Rs 262-265 zone. Open interest is very light as rollover is only 61-62 percent. It has immediate hurdle near to Rs 293 zone and above that we may see a fresh leg of rally which might take it to Rs 308-312 level. So, recommending to go long with a stop loss of Rs 280 for the immediate target of Rs 308.""Recently, Ashok Leyland has taken support near to Rs 82-83 zone and the support is working well from last five months. We are expecting it to reach to a high of Rs 97-80 and Rs 99.65 kind of levels. One can go for bull Call spread by buying 92.50 Call and selling 97.50 Call. In the entire strategy risk is around Rs 1.75 and if the stock moves towards Rs 97 then we are going to get profit around Rs 3.25. So, with 1:2 risk reward ratio, we are expecting Ashok Leyland to head towards Rs 96-97 in next coming trading sessions," he said.
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