Buy Ceat, Bharat Forge, HDIL; short ITC: Aditya Agarwal

Aditya Agarwal, Senior Derivative Analyst at Way2Wealth Securities told CNBC-TV18, "Ceat has seen a sharp correction, but for the last couple of days, it is consolidating in a range. And now, at lower levels, we are seeing some long positions getting built up. Today, the stock has had almost 4-4.5 percent on open interest which is on the long side. So, from these levels we are expecting a good decent rally from current level. We are expecting the stock may touch Rs 1,080 levels. So, from these levels, risk-reward ratio is clearly in favour of buyers with a stop loss of Rs 1,010, one can go long and target could be Rs 1,080-1,085.""Bharat Forge is in a downtrend, but if we see short-term chart, then the stock has given a minor breakout above Rs 840. We are seeing some short covering above that. So, we are expecting that this short covering may continue. But, I would like to give a buy call in a 850 Call option, so one can buy at Rs 20 levels. We are expecting a target of Rs 38 and on the lower side and stop loss would Rs 12," he said."If we see the real estate pack, then we have seen a decent pull-back from lower levels. HDIL has respected its levels of Rs 60-61 levels and from those levels, we are seeing a pull-back. For the short-term perspective, we are expecting the stock may touch Rs 71-72 levels. So, at current level, one may go long, keeping a stop loss of Rs 61 and target of Rs 71-72," he added."The overall structure of ITC is little bit weak. We saw some pull-backs from lower levels, Rs 310 is a support from those levels. We saw some pull-back, but the stock is not sustaining at higher levels. We are continuously seeing some profit booking in the stock at higher levels. So, we are again expecting the stock to retest its previous bottom of Rs 310-305. So, this pull-back which the stock has seen in the last 4-5 days can be used to initiate fair short positions keeping a stop loss of Rs 327. On lower side, our target will be Rs 310-305."