Rahul Mohindar of viratechindia.com told CNBC-TV18, "Amongst the frontlines I would look at buying Tata Motors. We are looking at Rs 560-565 coming in on Tata Motors. So, that seems to be a short term breakout, Rs 515 is a reasonable stoploss to trade with. The stock has been correcting for a couple of days but I think once again it is ripe for a breakout. So, that would be on my buy list."
"Amongst the others in the Nifty, Larsen and Toubro is the stock which catches my eye. Clearly when you look at the entire price action over November, we have seen Rs 1600 is a very established base. It has been a quiet stock relatively and we could just breakout in December. We have had a phase of consolidation. I am looking at Rs 1715 as an initial target on L&T but I think the stock could surprise. So, I would look at buying L&T with a stoploss at Rs 1615 and immediate targets being Rs 1715," he added.
"The next stock would be a midcap which is Tata Global Beverage. It is a bit of a medium to long term call here that I would make but the stock has seen some fairly interesting volumes yesterday, probably the highest in the last 5 or 6 months. So, single big volume breakout visible there on Tata Global and I think that stock has really built strong base for itself at Rs 150. I am looking at Rs 172 as an initial price targets. So, one could buy at current levels or around Rs 162 level. Stoploss, I would put on this trade for the near term is Rs 158."
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
