Gaurav Bissa of LKP Securities told CNBC-TV18, "My first recommendation would be going long on BPCL for target price of Rs 770 with a stop loss placed at around Rs 738-740. The stock witnessed good amount of bounce back at around Rs 700 odd levels. It has seen a good bounce with incremental volumes suggesting that the momentum has again picked up in the counter. It had a small phase of consolidation in last few trading sessions; today it seems to be coming out of that phase. Volumes have been good so far trading above the average so it is looking ripe for a target upwards of Rs 770 so, one can go long in this stock."
"We have been quite bullish on TCS. It has been facing some amount of resistance at Rs 2,700 odd levels. Today it is trading comfortably above 2,700; volumes have not dropped which again marks the confidence that profit booking has not yet touched up on the stock. I am looking for targets of Rs 2,800 and above so. One can go long in this stock where the stop loss is placed at Rs 2,675," he said.
"Colgate Palmolive gave a breakout above Rs 1,965-1970. Volumes were substantially large, it is trading above the short term averages indicating that in near term also the correction might not be that steep in the stock. So, one can go long in the stock for a short term target of Rs 2,030 with the stop loss at Rs 1,950 and in the longer run the stock, if sustains Rs 2,030-40, can test levels of Rs 2,150 also."
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