Buy IDFC Bank, Cairn India; Short Bajaj Auto: Imtiyaz Qureshi

The Nifty is likely to trade in range of 8,500 - 8,600 and breakout on either side of this range will give direction to the markets going ahead, said Imtiyaz Qureshi, co-founder & director, Investeria Financial Services. (Watch)

Stock Talk

Buy IDFC Bank: The stock is showing good momentum on charts and investors can buy this stock with stop loss at Rs 44 for target of Rs 62.

Buy Tata Motors DVR: The stock is looking better than Tata Motors. Investors can buy this stock with stop loss at Rs 319 for target of Rs 358.

Buy Cairn India: Investors can buy this stock on decline with stop loss at Rs 177 for target of Rs 220.

ITC: The stock is consolidating in range between Rs 260-240 and breakout on either side of this range will give direction to ITC.

Short Bajaj Auto: Selling can continue in this stock. Go short on Bajaj Auto around Rs 2,750 with stop loss at Rs 2,790 for target of Rs 2,675.