Enter Hero Motocorp, advises Sahil Kapoor

Sahil Kapoor of Edelweiss Financial Services told CNBC-TV18, "Hero Motocorp's results were quite bad. So, a cyclical low in Hero Moto is already in place and also if you were to draw a 12 year or 20 year trend line on the stock, it touched the trend line and formed a bullish engulfing last month. It had one month consolidation also and now on daily charts it is forming an inverted head and shoulders and neckline is placed at Rs 2,825. It can have more upside from current level. So possibly an entry here with a stop loss below Rs 2,490 and you could see Rs 2,860 in the short term."

At 15:03 hrs Hero Motocorp was quoting at Rs 2,659, up Rs 18.80, or 0.71 percent. It has touched an intraday high of Rs 2,674.95 and an intraday low of Rs 2,653.