Buy Ashok Leyland, SRF, L&T: Chandan Taparia

Chandan Taparia of Anand Rathi Securities told CNBC-TV18, "Ashok Leyland recently corrected from Rs 113 to Rs 102-103. Overall measure in the medium trend is positive and usually this stock is a classical example of resistance becoming support. Earlier it was moving between Rs 64 to Rs 77 and then trend shifted from Rs 77 to Rs 99.65 and now I am expecting downside to be limited near to Rs 99.65 and in that case it can again move towards Rs 113 and Rs 120 kind of levels. So, I am expecting it to move in a positive way after a decline. So, recommending to buy on any decline with a stop loss of Rs 100 for the upside potential target of Rs 110 and higher levels." "Second trade is a buy on SRF. This stock has added open interest by more than 12 percent on the last trading session side and given a classical consolidation breakout of last 15 trading sessions. We also observed the higher trading volume in the open interest which also indicates that momentum extends from one or two trading sessions. So recommending to buy with a stop loss of Rs 1,400 for the upside target towards Rs 1,465," he said. "Larsen and Toubro (L&T) has not performed well in last many months but now slowly moving upwards and managed to give in the highest daily close in the last many days. It has managed to cross and hold the Rs 1,300-1,290 hurdle and because of that some short covering may extend it to Rs 1,325-1,340 levels. So, I will suggest to trade with option. Buy 1,300 Call by keeping the stop loss of Rs 18 and I am expecting it to move towards Rs 50-52 on the higher side."