Buy Rajesh Export, Welspun India: Ashish Kyal

Ashish Kyal of wavesstrategy.com told CNBC-TV18, "Rajesh Export has been a very strong momentum stock. It moved out form Rs 200 and enterd around Rs 600. It corrected from Rs 600 nearly about 50 percent to around Rs 360 and now again we are seeing an upmove. So, this looks like good momentum bet as of now. There is a strong bias on the upside the daily, weekly and the monthly bars have been closing positive. So, Rajesh Export is a buy and a stop loss can be maintained at Rs 570 and targets that we can expect is around Rs 688 over short-term. If it manages to take out that level then further upside targets will open up." "The next buy call is Welspun India. This is more from looking at a time cycle perspective. It is forming a low every 32 days. Recently just about ten days back it gained formed a low and has bounced back. The stock has given a good pattern breakout on upside as well. Welspun India is a buy and we think it is going to move up. With a stop loss of Rs 845 we can expect a target of Rs 995 on this stock," he said.