Buy Colgate, Voltas, Arvind; sell JSPL: Chandan Taparia

Chandan Taparia of Anand Rathi Securities told CNBC-TV18, "Colgate Palmolive has recently taken support near Rs 900 zone and this zone is working well from last five series. Most of the times it turns from the major support of Rs 900 levels. In last two trading sessions, we have seen a built up of long position and now short covering is also being witnessed in the counter. It looks attractive at current level and is standing from the major support. So we recommend to buy the counter on any decline or at current level with a stop loss of Rs 905 for the upside target of Rs 975 to Rs 980 kind of levels." "Voltas is quite strong but fortunately we are getting at lower levels because of the market pressure. Earlier it was expecting to take support of Rs 265 and now the support is shifted to Rs 282 levels. We recommend to buy on recent decline with a stop loss of Rs 282 for the upside target of Rs 305," he said."Arvind has done well in last couple of series but recently we have seen small correction inline with the entire market. It is now taking support near Rs 327 zone, which earlier used to be a hurdle for the counter. So it is a classical example of resistance becoming support and it is also respecting to its 50-day moving average. So we recommend to go long on Arvind as well. Keep the stop loss of Rs 327 and trade for the upside target of Rs 352 kind of levels.""Jindal Steel & Power is continuously going down, although it has stuck in F&O period, we will suggest to sell or traders can sell quantity in cash market as well. It is continuously falling down from the last five-six trading sessions making lower tops, lower bottoms formation. Earlier in the beginning of series, it fell to Rs 98 and now fresh built up clearly indicates that the stock has the potential to go down. So we recommend to sell with a stop loss of Rs 80 with a potential target towards Rs 70-69 levels."He further said, "Ashok Leyland has been moving in a range from last five-six series. Most of the times, it takes support near Rs 85-86 zone on the lower side and move towards Rs 95-99. Although it is consolidating in a range, so we are getting opportunity to buy on decline, keep the stop loss of Rs 85 or those who are interested in trading can definitely trade with 90 Call which is trading near Rs 2.5, keep the stop loss of Re 1 and this option can move towards Rs 5."