Buy Siemens, IndusInd Bank, HCL Tech: Chandan Taparia

Chandan Taparia of Anand Rathi Securities told CNBC-TV18, "We are recommending to go long on Siemens. We have seen strong recovery in the last trading session with open interest addition. Multiple times, it has taken support near to Rs 975 zone. Yesterday it comfortably traded above Rs 1,000 levels and given momentum. Today, the stock is trading in a range but the way it is holding the gains, we are expecting it to head to higher levels. So, we are recommending to buy with a stop loss of Rs 995 for target of Rs 1,080-1,090 kind of levels.""We are witnessing sustained selling in most of the private and the PSU bank but IndusInd Bank is the only stock which is holding the gains. Just a couple of days back it made a narrow range formation and after that narrow range formation, the stock is holding the gains with sustained buying interest. Although open interest is around 5-6 percent but if it aids open interest of more than 10 percent this momentum may head to higher levels. So, recommending to go long on IndusInd Bank as we believe that this stock has potential to outperform the market and if Nifty manages to hold. So, recommending to buy on small decline with a stop loss of Rs 820 for the target of Rs 868," he said."HCL Tech is the only counter from the IT space which is holding the strength. Just a couple of days back it made low near to Rs 786 and after that it is continuously making higher lows from last four or five trading sessions. Although it is trading below its 50-day moving average but the way it is sustaining above its 13-day moving average and also holding above its hurdle of Rs 830, it has potential to move on higher side. Recommending to buy the stock with a stop loss of Rs 818 for target of Rs 870-875."