Buy Strides Arcolab, Siemens: Gaurav Bissa

Gaurav Bissa of LKP Securities told CNBC-TV18, "My first recommendation today is a buy on Strides Arcolab, for target price of Rs 955, keeping a stoploss at Rs 928 or so. The stock has been in a good consolidation, it has corrected and it is taking good support at Rs 915-920 levels which is also the 20 daily moving average (DMA), it is placed around those levels. It is trading with the increased amount of volatility, it has fallen in last half an hour or so, trading near the stoploss. But if it holds on to Rs 925 odd levels, it can touch Rs 950-955 by tomorrow.”

He further added, “My second recommendation is a buy on Power Finance Corporation (PFC), for target price of Rs 290 keeping the stoploss at Rs 277. This is another stock that gave a steep correction from Rs 315-320 levels and has taken support around 100 daily moving average (DMA). It has seen some amount of consolidation and the volumes have picked up in the counter in last couple of trading sessions and the stock has witnessed short covering yesterday, indicating that it is a good bounce back candidate. So that is the rationale behind going long in this stock.”

”Final recommendation is a buy on Siemens, for target price of Rs 940 keeping the stoploss at Rs 914. The stock had given a breakout above Rs 900 but has been consolidating in last couple of trading sessions failing to bank on to the move. It has witnessed some amount of long positions during this consolidation and today it looks as if it will come out of its short consolidation and may hit the higher targets of Rs 940,” he said.