Buy Infosys, Federal Bank; short Tata Motors DVR: Aditya Agarwal

Aditya Agarwal of Way2Wealth Securities told CNBC-TV18, "Infosys has already seen a good correction and now, the stock is consolidating in a range of Rs 1,150-1,185 levels. The level of Rs 1,150 is a very strong support and in the last three days we have seen a good amount of short covering. So, I would like to take a contra call in Infosys and I would like to go long at current level with a target of Rs 1,230 and a stop loss of Rs 1,150.""Federal Bank last week gave a breakout above Rs 59 levels and after that, the stock has seen a good rally to Rs 64. In the last two days, we are seeing some profit booking, but overall structure for Federal Bank is good and today’s correction has given a good opportunity to make long positions with a good risk reward ratio in favour of buyers. With a stop loss of Rs 59, one can go long and we are expecting the stock may test Rs 68 level in the short-term," he said."Tata Motors DVR has seen a sharp rally from Rs 280 to Rs 315. But, Rs 314-315 is a very strong resistance level and from those levels, we are seeing some long-unwinding pressure. We are expecting the stock to continue to be under pressure and on the lower side, it can test Rs 295-292 levels. Any pull back towards Rs 306-307 can be used to initiate short positions with stop loss of Rs 314 and target of Rs 295 and Rs 292.""Engineers India is trading in a channel and Rs 215-216 is the higher band of the channel and from those levels, we have again seen some profit booking in today’s trading session. The stock has already corrected by almost Rs 3-4 in the last 10-15 minutes. So, I would advise to sell on rallies. If it comes in the range of Rs 213-214 that is a good time where one can go short with a stop loss of Rs 217 and on the lower side, we are expecting target of Rs 204-200 in the short-term."