Buy BEL, UPL, YES Bank; sell Britannia Industries: Ashish Kyal

Ashish Kyal, Founder & CEO of wavesstrategy.com told CNBC-TV18, "We have three buy calls and one sell call. The first buy call is on Bharat Electronics. This stock was correcting on the downside and retraced back somewhere around 50 percent of the rise. Right now we are seeing the strong momentum in breakout on the upside. So this stock should continue towards Rs 1,275 or Rs 1,300 levels. One can initiate the long position and keep a stop loss of Rs 1,165 and the target can be expected at Rs 1,275 levels.""The next buy call is on UPL. If you look at the structure, it was facing a lot of resistance near Rs 440 zone and now it has decisively broken above it. Around 3-4 times it tested that zone and broke above it. So that should now act as a very important support. We get the target somewhere around Rs 492-500. So one can buy UPL with a stop loss of Rs 438 and the target can be Rs 492 on the upside," he said."Third buy call is on YES Bank. This has been a very strong outperformer within the banking space. Even today we are seeing some kind of a correction but YES Bank is managing to outperform to some extent. So, it is better to stay on the long side in this stock and one can expect a target of Rs 900 but keep a stop loss of Rs 820 because in case it breaks below Rs 820, it will also break the short-term moving average line. So Rs 820 looks a very important support level.""The final call on sell side is on Britannia Industries. This stock has not done anything post start of 2016 and we can see that after touching Rs 2,900, it has been constantly moving lower. So, there is a strong resistance near the zone of Rs 2,850 and recently it also broke below the important pivot support. So, I think there is a possibility it might rush back towards a previous low, which was made near Rs 2,500 over a medium-term. So, the strategy should be on the sell side. So, any pullback from here on Britannia should be a sell and stop loss should be Rs 2,750 and the target has to be maintained for Rs 2,530 levels," he added.