Buy M&M, Dabur, Zee Entertainment; sell Ajanta Pharma: Taparia

Chandan Taparia, Derivative & Technical Analyst at Anand Rathi Securities told CNBC-TV18, "I have a buy on Mahindra and Mahindra (M&M). The stock has managed to hold support near Rs 1,300, holding well even after the market pressure. So expecting it to bounce to Rs 1,425. It is the strongest counter and now taking some stability, so one can buy with a stop loss of Rs 1,340.""I have a buy call on Dabur India. This is the strongest counter in FMCG pack. Last week it witnessed strong momentum, open interest was added by around 8-10 percent which indicates that the stock has potential to move towards 308-310 level. So looking at the market volatility, I am suggesting to trade with 300 Call and expecting this Call to double to Rs 12. One can buy with a stop loss of Rs 3," he said."I have a buy call on Zee Entertainment. This stock has been finding multiple supports near Rs 500 from last three weeks. It seems that selling is taking pause and now if it manages to hold Rs 510, then a bounce back towards Rs 525 cannot be ruled out. So one can trade with 510 Call for target of Rs 28 and put a stop loss of Rs 8 for this Option trade.""On the negative side, I am looking at profit booking in most of the pharmaceutical counters. Ajanta Pharma has the weakest structure, added built-up of shorts followed by liquidation of long position. The stock has broken an immediate support of Rs 1,930-1,900 zone. So on bounce back move, one can sell with a stop loss of Rs 1,930 for a downside target towards Rs 1,820 levels.""I have a sell call on Syndicate Bank. The weakest structure in the entire PSU bank and this weakness may continue after the market's bounce back. It has broken multiple support of Rs 70 zone with sustained Call writing and builtup of short positions. So on bounce back move, one can sell with a stop loss of Rs 70 and the stock has a potential to go down and test lower target of Rs 61.60 zone."