Buy Torrent Pharma, Tech Mahindra, M&M; sell Asian Paints: LKP

Gaurav Bissa of LKP Securities told CNBC-TV18, "My first recommendation would be buy on Torrent Pharma. Aggressive longs have been seen getting build. Good amount of rollovers were seen after announcement of quarterly numbers. Some unwinding was seen, it has again been followed by fresh longs giving a swing high. Have a stop loss of Rs 206 and play for target of Rs 220." "Second would be a buy on Tech Mahindra Futures. Among IT space, this one which looks very strong has given a break out on the daily and weekly charts. Strong accumulation in futures with good amount of buying in 500 and 510 Call options. One can have a stop loss of Rs 498 and play for target of Rs 525 in Tech Mahindra," he said. "Third would be buy on Mahindra & Mahindra. It has not participated so far among the auto space. Good amount of long positions are seen getting build; there is lot of selling at 1,300 Call option. Once it crosses Rs 1,300, one can go long and have a stop loss at Rs 1,280 and play for target of Rs 1,350." "Final recommendation would be sell on Asian Paints. Unwinding has already started from Rs 995-1,000 levels with good amount of Option selling, specially Calls have aggravated. So, on that premise, one can sell with a stop loss of Rs 988 with a target of Rs 945 in mind."