In a recent interview with CNBC-TV18, Ashish Kyal of Waves Strategy Advisors shared his insights on three intriguing stocks that have been creating ripples in the market. Kyal highlighted the potential of these stocks and offered valuable advice to investors looking to make informed decisions.

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Ashish Kyal started by highlighting Zydus Wellness as a strong buy option. He noted that the stock recently experienced a substantial gap up opening, which is not only holding but has also broken out from a prolonged period of consolidation. This breakout, occurring at around Rs 1,560, has sparked interest among investors. According to Kyal, the pattern target for Zydus Wellness on the upside is an impressive Rs 1,760.

To capitalize on this opportunity, Kyal suggested taking a long position in Zydus Wellness while keeping a stop loss at Rs 1,577.

Over the last month, the stock has demonstrated remarkable growth, gaining more than 10 percent.

Moving on to the next stock, Mphasis, Kyal observed a positive trend after a brief consolidation period. The stock is currently displaying strong bullish momentum, backed by increasing trading volumes. Notably, Mphasis has bounced back from its 10-day moving average, reinforcing its upward potential.

Kyal recommended considering a long position in Mphasis with a target of Rs 2,635 while maintaining a stop loss at Rs 2,370.

Over the past month, Mphasis has surged by over 8 percent, signaling its resilience and growth potential.

Shifting focus to the midcap IT sector, Kyal pointed out that it has been buzzing with activity while the larger IT companies like Tata Consultancy Services (TCS), Infosys, and Wipro have struggled. Coforge, in particular, has stood out with a significant rise in share prices, accompanied by substantial trading volumes. The stock is on the brink of breaking its previous high, set around Rs 5,400.

However, Kyal cautioned that the current risk-reward ratio may not be favorable for immediate investment in Coforge. Instead, he suggested that investors watch for a potential dip to around Rs 5,200 as an entry point. The target price on the upside is estimated at around Rs 5,600 or possibly higher.

Impressively, Coforge has seen remarkable growth, with shares gaining more than 13 percent in just the past month.

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