Buy Bata, DLF; sell IRB Infra, TCS: Chandan Taparia

Chandan Taparia of Anand Rathi Securities told CNBC-TV18, "Bata India is now holding the gains. We have seen built up of long position and now it is at the verge of fresh breakout. The stock is holding the support on higher side which clearly indicates that the momentum extends to higher levels. We are recommending to buy with a stop loss of Rs 514 for the upside target towards Rs 540." "We have positive view on DLF. The stock has been holding the support of Rs 212 from last three-four trading sessions. Fresh Put writing at Rs 110 strike also indicates and supports our positive view. We are expecting it to move towards Rs 122 to Rs 125. So, suggesting to trade with 120 Call by keeping the stop loss of Rs 2 for upside target of Rs 8," he said."One can sell IRB Infrastructure Developers. The stock has broken the immediate support of Rs 223 and holding below its 50-day moving average. It is seeing fresh built up of short position and fresh Call writings are putting pressure on the counter. So, recommending to sell with a stop loss of Rs 225 for the downside target towards Rs 210." "One can also sell Tata Consultancy Services (TCS) because the stock has broken the immediate support of Rs 2,450. Recently, it failed to surpass the immediate hurdle of Rs 2,550 zone. So, recommending to buy for immediate trading point of view by keeping the stop loss of Rs 2,480 for downside target."