Siddharth Bhamre, Head - Investment Advisory and Derivatives at Angel Broking told CNBC-TV18, "IT stocks including HCL Technologies and Wipro are something which is attracting lot of our interest and we would suggest formation of long positions over there. Around Rs 135-137, NTPC is a good buy and good liquidity in options. Implied volatility is low but still covered call writing can be done in NTPC, it is one stock which we are positive on."
"In Bharat Heavy Electricals (BHEL) we continue to hold on to long positions created at much lower levels, we have targets of around Rs 255-260, that may be attained in September series," he added.
"In private sector banks, we like ICICI Bank though the run up has been quite steep from Rs 1400-1550. I think it is just now breaking out again from the range which we have seen in last 3-4 months. That is one stock to watch for."
He further said, "Axis Bank and HDFC Bank are other preferred stocks. These names are attracting our attention. I am not saying that auto stocks won't continue to go up but these are the names which are looking more attractive to us from charts data perspective."
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