Chandan Taparia of Motilal Oswal Securities is of the view that one may buy Indo Count Industries, Dr Reddy's Laboratories and Motherson Sumi.
Chandan Taparia of Motilal Oswal Securities told CNBC-TV18, "Stock specific, midcap and heavyweight counters likely to do well in this series. So I have selected couple of stocks based on their price pattern and the open interest and rollover data base."
"First trade is buy on Indo Count Industries (ICIL). This stock has seen rollover of 91 percent and after a long time this stock is bottoming out. It performed a triangle breakout pattern on the last trading session and holding well above its 50-day exponential moving average. So, expecting 5-7 percent rally in the counter. One can buy with a stoploss of Rs 122 and I am expecting a move towards Rs 134 kind of level in the counter."
"Second trade is in the pharmaceutical pack i.e. Dr Reddy's Laboratories. We have seen strong rollover in most of the pharmaceutical counter including Sun Pharmaceutical, Dr Reddy's. Sun Pharmaceutical has seen 90 percent rollover, Dr Reddy's also seeing 89-90 percent rollovers.
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