Buy Petronet LNG, ITC: Chandan Taparia

Chandan Taparia of Motilal Oswal Securities told CNBC-TV18, "First trade is buy on Petronet LNG. This stock has taken support at its lower band of the trading range and formed a bullish candle on the daily chart. It also witnessed short covering at the lower level which indicates that follow up buying may take it to higher band of the zone. So, recommending to buy with a stoploss of Rs 430 for an upside target towards Rs 455."

He further added, "We have seen buying interest in most of the FMCG counter and ITC has been moving upwards from last two trading sessions. We have seen Put writing at 300-310 strike and expecting this stock to head to new high territory. So, recommending to buy with a stoploss of Rs 302 for an upside target towards Rs 325."

"We have seen buying interest in most of the metal counter. In fact Nifty metal stocks have seen strong price momentum. Tata Steel has given recent high as daily close, managed to hold above Rs 515-520 zones. Fresh activity and Put writing at lower level strike indicates that the stock has potential to head towards Rs 530-532 kind of zone. So, recommending to trade with 520 Call, put the stoploss of Rs 6 and expecting this call to head towards Rs 18-19," he said.