Buy State Bank of India, ICICI Bank, IPCA Labs: Rajat Bose

Rajat Bose of rajatkbose.com told CNBC-TV18, "ICICI Bank and State Bank of India look pretty good. State Bank after August 20, 2015, when it broke down below the 200 day exponential moving average for the first time, crossed that decisively at least in yesterday’s session. Today if it were to stay above Rs 208 that is a level of the 200 day exponential moving average, it shows that it has been taken care off. Today you buy with a stop loss below Rs 205 and Rs 214 and Rs 219 are the two targets." "ICICI Bank has got good support between say Rs 248.50 to about Rs 247 kind of zone. I placed a stop loss at Rs 246.90, yesterday it showed good volume activity and with a kind of intraday chart pattern that I saw, I thought that the momentum is likely to continue; Rs 263 to about Rs 265 would be the target, yesterday it closed at Rs 254.10. I recommend buying at current level," he said. "IPCA Laboratories has actually given reversal signal yesterday and it has also posted a tweezer bottom and has also crossed its 13 day exponential moving average. Now at these levels the stock looks like a buy and you are actually do bottom fishing. Your risk is very low at this juncture. So, my targets are Rs 448 and Rs 459 and it is actually the kind of stretched targets that I have given. It is clearly suggesting to buy for the short-term and put a stop loss below Rs 419.90. So, IPCA is a good buy, even for delivery one can buy.""NELCO has been consolidating and yesterday it has given a price volume breakout. It is likely to cross Rs 100. Its target on the upside would be something like Rs 109 and you put a stop loss below Rs 95 and buy at current level. Expecting the kind of move that it showed yesterday, the momentum is likely to continue.""Selan Exploration is one stock that I hold in my portfolio, I think that the kind of movement that it has given yesterday shows that a fresh uptrend is just about to begin. So, put a stop loss at Rs 197 and target are Rs 220 and 227. Crude oil chart also looks pretty good from that perspective, probably Selan is likely to do well."