Buy Tata Elxsi, Petronet LNG: Sacchitanand Uttekar

Sacchitanand Uttekar of Motilal Oswal Financial Services told CNBC-TV18, "This is not a particular time where one should look at the market from a shorting perspective. It is a very good time where one should start venturing into quality names and Tata Elxsi is one particular name wherein we have seen a very strong uptrend so far. The stock is placed at the 200-day moving average support and if you look at the overall set-up, it provides a very good opportunity to create fresh longs. So, we expect this stock to again rebound from here on. The level of Rs 2,100 is the immediate target that we are talking about and the same can be participated with the stop loss at Rs 1,620.""We have already seen that the entire energy sector as such has been in the outperforming zone. We have seen a very strong trend in Petronet LNG. We expect this particular continuation pattern to witness a breakout soon. This particular stock can be accumulated with a stop loss at around Rs 243. We expect the first target of around Rs 275," he said.