Buy HPCL, Ceat, Arvind: Ashish Kyal

Ashish Kyal of wavesstrategy.com told CNBC-TV18, "The first stock on the buy side is HPCL. Oil marketing companies have done exceptionally well at least on the stock price level. The momentum has been very strong. So there is a potential that these companies can again move higher from here as well. So one can create long positions on HPCL keeping a stop loss of Rs 442 with the target levels of Rs 485.""The next stock on the buy side is Ceat. We can already see lot of traction on the tyre companies and the companies like Ceat, MRF, all have been showing very strong momentum. Also, the rise in Ceat has been impulsive which means that it is following an impulsive trend and not the corrective trend. So there is a potential that we might see the third-wave extending further towards the level of Rs 1,500 or Rs 1,525. So one can create long positions on Ceat keeping a stop loss of Rs 1,320 and the target of Rs 1,525," he said."Final call is buy on Arvind. Within the space, Arvind had been an outperformer and if you do the ratio chart, the ratios have been constantly rising indicating that Arvind has been strongly outperforming the broader market and one can create long positions on this stock keeping a stop loss of Rs 349 and the target can be expected at Rs 388 levels."