Go long in Tata Consultancy Services, ONGC: Hemant Thukral

Hemant Thukral of Aditya Birla Money told CNBC-TV18, "Reasons to pick up Oil and Natural Gas Corporation (ONGC) are that it has added fresh open interest (OI) to the tune of 2 percent. We have seen already 260-270 Put writers active in the next series. So it is making a strong bottom in Rs 270 and we feel that it can test Rs 285-286 in the short-term.""Second stock that we are picking up is in IT space - Tata Consultancy Services (TCS) which again is predominantly we are buying because of the Put writers that are getting active at Rs 2,100. We feel that now a strong base has been formed. If we adjust the premium of Rs 15, we feel Rs 2,085 could be a good stop loss and yesterday we have seen 8 percent open interest (OI) added up with cost moving up, with premium also moving up. So fresh longs have been put up here," he said."So, stop loss should be Rs 2,085 and we expect it to test Rs 2,210-2,215. So, we are recommending TCS and ONGC on the long side."