Buy TVS Motor, may move to Rs 85: Shardul Kulkarni

Shardul Kulkarni of Angel Broking told CNBC-TV18, "I would definitely have a buy call on TVS Motor Company. The stock is in a very strong higher top higher bottom cycle. Despite the market losing about 300 points from 6300-6350 we are seeing that TVS Motor during the same timeframe has actually moved higher from Rs 66 to around Rs 78. Any decline in the stock should be used to buy."

He further added, "The stock is currently showing you a good strong upward rise in channel. So I would look at any decline towards Rs 72 to buy into the counter. If at all the decline does not come, traders can actually use Rs 72 as a stoploss and buy into the counter. Conservative traders should place Rs 68 as a stoploss."

"We expect the stock to move to about Rs 82 and then cross Rs 85-86 levels over the next couple of trading days, so it is a buy on declines," Kulkarni said.

Disclosure: Analyst may have positions in the above stock and recommended them to his clients.