Buy Power Grid, Biocon, Apollo Hospitals: Chandan Taparia

Chandan Taparia of Anand Rathi Securities told CNBC-TV18, "First is buy on Power Grid, this stock has given a consolidation breakout of last 22 days accumulation and added open interest by around 20 percent which indicates that it has potential to move on higher side. So, that significant open interest with the consolidation breakout indicates that momentum may extend towards Rs 154 levels. So we are recommending to buy with a stop loss of Rs 145 for the higher target." "Other trading idea is buy on Biocon. This stock has given a consolidation breakout and added open interest by 7-8 percent and now trading at unchartered territory. It was holding well to its multiple support of Rs 620 zone and now the support is shifting to Rs 625 on the higher level because of that the momentum may extend led by short covering activity. Expecting it to move towards Rs 665, so one can trade with a stop loss of Rs 625 kind of levels," he said. "We have also positive view on Apollo Hospitals. This stock has bottomed out recently by taking multiple support near to Rs 1,290-1,300 zone. It is holding the gains and now moving above its 50-day moving average. We have seen some buying interest and delivery volume is also supporting the positive sense on the counter. So, one can buy with a stop loss of Rs 1,325 for the higher targets of Rs 1,410."