Buy Nelco, Kajaria Ceramics: Manav Chopra

Manav Chopra of Networth Stock Broking told CNBC-TV18, "Nelco has confirmed a medium term trend reversal. It has breached its three months falling trendline and recently the stock after a short-term consolidation has given a good breakout today on the daily charts. The momentum looks very good for the near term perspective. It can be traded for next 4-5 trading sessions. We have also observed the spike in volumes which also has been above average."

"The overall formation looks very good in the stock for short-term perspective. Since Nelco has confirmed a medium term trend reversal, looking at the momentum perspective we could see a possible rise of another 5-6 percent as the momentum looks very good. So this is a buy and we expect an upside target of Rs 88," he said.

"Kajaria Ceramics has been in a very good uptrend since past 3-4 years and any good corrective decline is a good opportunity to enter into it. The stock has recently declined by over 10-12 percent from its recent peak and has tested its 200-day moving average. Kajaria Ceramics in the past, whenever it tested 100-200 DMA has often rallied towards its new high. Since the primary trend is still intact, we recommend buy at these levels since the risk reward ratio looks very good and we expect an upside target of close to Rs 820 in possibly few weeks."