Buy L&T; sell Ambuja Cements, M&M: Gaurav Bissa

Gaurav Bissa of LKP Securities told CNBC-TV18, "My first recommendation would be, my only buy today on Larsen & Toubro (L&T). The target is around Rs 1,700 keeping the stop loss at Rs 1,530. It is executing a short-term bullish flat formation on daily charts. So it is trading near the lower end of the range. I feel that there can be a bounce that can be seen in this stock. The short-term target of Rs 1,700."

"My first sell recommendation for today is sell on Ambuja Cements. It is trading below the short-term averages. So I feel the stock can fall below Rs 212 in the coming days. So one can sell this stock with the targets of Rs 212 and the stop loss would be Rs 222," he said.

"Another sell recommendation would be on Mahindra & Mahindra (M&M). It has shown bullish engulfing pattern with negative signs. It is also trading below all the moving averages are trading below short-term averages. Momentum indicators are down so I feel the stock can fall much further. Target for the stock would be on Rs 1,150 and the stop loss can be kept at Rs 1,215."