Buy Motherson Sumi, Torrent Power; sell Reliance Power: Mohindar

Rahul Mohindar of viratechindia.com told CNBC-TV18, "In Motherson Sumi Systems pretty much the whole month of March has shown that Rs 235 odd levels have been a fairly good support zone and again of course the stock has been range bound. We haven't even gotten past Rs 250. Now we think that overall the stock has bottomed out. It is probably going to move higher. So, with a near term target of Rs 257 which may take a couple of weeks from now I would look at buying the stock with a stop loss of Rs 232.""Torrent Power has been one of those outperformers. In the last couple of weeks it has continuously shown resilience. We once again would utilise corrections to get into the stock. So, even at present level buy for Rs 260 as the target. If you are really looking at buying the breakout you probably want to see Rs 242 to be broken out on Torrent Power. So, if you really want to time it that is the level to keep in mind but on the whole Rs 226 being a stop loss seems to be a fair target to be aiming out with," he said."One can sell Reliance Power looking at Rs 42 as a near term target. We think about an 8-10 percent drop is on the cards here. So, with Rs 46.50 as the stop loss I would recommend selling the stock. It has been challenging the 200-day moving average and not being able to get past on multiple attempts. So, I continue to see weakness. We see a lot of volume distribution at around the Rs 46 levels. So, there is definite resistance on this stock and we might crumble lower."