Buy ONGC, Praj Industries: Ambareesh Baliga

Ambareesh Baliga, Market Expert told CNBC-TV18, "I have been trading in this market for the last 2.5-3 months, been mostly into cash. I bought close to 50 percent in cash, but then utilising that cash, but then utilising that cash for short-term trading because this market is giving a lot of opportunities. But as far as investment is concerned, I am selectively buying into cement and because the way the oil prices are expected to move, I will be buying into stocks like Oil and Natural Gas Corporation (ONGC) and stretching that a bit more, I am also looking at Praj Industries which I had recommended about 6-8 months back. But then with the oil prices moving up, that will also be beneficial for Praj."

Oil and Natural Gas Corporation ended at Rs 171.55, up Rs 7.10, or 4.32 percent on the BSE.