Go long in Asian Paints, ITC: Amit Harchekar

Amit Harchekar, Chief Technical Strategist at A PLUS Analytics told CNBC-TV18, "We have seen strong outperformance from Asian Paints compared to broader markets. Right now the stock is trading with a breakout above Rs 875. We are expecting rally in the stock to extend towards Rs 920 to Rs 925. So, keeping stop loss of Rs 855 one can maintain long positions." "Second buy would be on ITC. The stock has already retraced nearly 78 percent of the recent upmove and we believe from this zone, it has the potential to rebound back towards Rs 330 to Rs 335 levels. So, keeping stop loss of Rs 298 one can go long for a target of Rs 328 and thereafter Rs 335," he said.