Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "The crude is not given us a signs of bounce. It is rallying from oversold conditions. Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) are better instruments to take trade on. Both are buying opportunities. So is Oil and Natural Gas Corporation (ONGC) inspite of the 3 percent gains we have already seen. ONGC was in our buy list on Monday and it is gratifying. All the oil and gas stocks, at current levels are an opportunity."
"Even Idea Cellular is doing well and the same theme applies to Idea that applied to Bharti Airtel. So there are opportunities in this market," he added.
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