Buy ITC, sell Tata Steel: Rajat Bose

Rajat Bose of rajatkbose.com told CNBC-TV18, "I would be buying ITC, at current level, looks to me it can go up further say something like Rs 362 to about Rs 363 kind of levels. I would put a stop loss just below Rs 356 at Rs 355.90. Intraday chart is rangebound now and daily chart still looks bullish.""Tata Steel can actually weaken even further. I would put a stop loss above Rs 329.30 and there are two targets - Rs 323.90 and Rs 322.20. So, one buy and one sell," he said. "Right at the beginning of the day, today there had been huge volume in Bharti Infratel and it touched the day’s low around Rs 334.20. After that, it has moved up a bit and then around Rs 340 it is now range bound. So, this huge volume and the big bar from Rs 350 to about Rs 334, unless that Rs 334.20 is taken out, I don't think you will see further lower levels at least for the day. Today there is no point selling it again. However should you buy, definitely not even the intraday moving averages are not signalling that it is getting ready for any kind of recovery, so still such time I would suggest an avoid." "The problem with Jai Corp generally is that it gives very volatile moves like for instances three months of trading range has been taken care of in today’s session with the kind of move that it has given. I would suggest that here you are not buying because it has moved up so much and in today’s session you would wait for at least on a decline to about Rs 75-76 kind of range only then think of buying otherwise it could actually give you some trouble. Especially, why I am mentioning Rs 75 because that was a top end of the range for the last three-four months. That should now act as a good support area."