Buy Essar Ports, says Amit Harchekar

Amit Harchekar of A Plus Analytics told CNBC-TV18, "We have recommended buying Essar Ports based on negation theory. The stock earlier was forming a bearish rising wedge and since the high was taken out with quite a good bit conviction we are expecting a good reversal in the stock."

"The stock has already a strong breakout above Rs 119 and has being sustaining those levels. So we are expecting the stock to move up in the coming days. The target is placed between Rs 138-140 in 3-4 trading sessions. However from trading perspective one needs to maintain tight stop loss of Rs 119 on closing basis," he added.