Go long in Castrol India, IFCI: Hemant Thukral

Hemant Thukral of Aditya Birla Money told CNBC-TV18, "Castrol India and IFCI are typical from the midcap side and they have come in the buying radar after a very long time. Castrol has been consolidating between that Rs 375 and Rs 385 mark for a very long time and it came out of that range with an addition of 9 percent in open interest (OI) and premium in next month moving up to cash. So, clearly it is telling that long positions have been added up and we see that in near future, the stock should head towards that Rs 405-408 range and now Rs 383, which is a breakout level will act as a very strong support. So that will be a stop loss level.""IFCI, after a very long period of time saw a 12 percent open interest being added up and the important thing was the way 25 call writers started to unwind their positions and pushed towards Rs 27.50 and Rs 30, which is a very encouraging sign for IFCI. I think in immediate short-term, traders can look for a target of Rs 27.50 to Rs 28," he said."Call writers have shifted their position at Rs 25, which will become an important stop loss. So both are midcap stocks and both have come out after a long time and seeing good open interest addition. So these two qualify as a good long term picks," he added.