Rahul Mohindar of viratechindia.com told CNBC-TV18, "Taking a call on the market, it looks a little negative to me. Yesterday we broke a very important level. Technically 8,550 is an important number for a short-term trader. I agree 8,250 is still there on the down side but again the short-term trend looks a bit weak. In this scenario I would look at three positions; it is very stock specific."
"Tata Motors looks weak but along with a lot of its peers too. Tata Motors can be sold into it current market price of around Rs 530. We are looking at the stock moving more towards Rs 500-507. So that could be a target. Stop loss in the stock would be at Rs 542," he said.
"Voltas looks good to us for medium to long-term. We are very positive on the stock. The level of Rs 280 is a big long-term support on that stock. So we are looking at the stock really moving to Rs 307 in the near term. So, given two to three weeks, I think we would see Voltas at these new highs but I think given a longer-term timeframe we are quite bullish on Voltas for Rs 360-370. So both a short-term and a long-term count here look very positive to me. So, at Rs 292 it is worth buying into Voltas, Rs 286 being the stop loss."
"One can buy Hexaware Technologies, here too we see outperformance. It has been consistent over the last couple of months and I still feel there is head room. The level of Rs 320 would be an ideal price to get into the stock. We are looking at targets of around Rs 350 come in, in the near-term and stop loss being Rs 310," he added.
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