Buy RIL, IndusInd Bank, Tata Steel, Bajaj Auto, Bata India: VK Sharma
VK Sharma, Head – PCG and Capital Market Strategy at HDFC Securities told CNBC-TV18, “The best pick that I like among the stocks that I have to pick or recommend to is Reliance Industries. That stock has seen a high of Rs 990 and therefore it is consolidated at a level at which it gave a broke out. So in case of Reliance I am buying the 980 Call at around Rs 24 with stop loss at Rs 18 and target of around Rs 35.”
“Another largecap which looks good is IndusInd Bank. This is again a bank which has underperformed its peers, the private sector banks and is now ready for a breakout. So, in IndusInd I am recommending to buy the 1,760 Call at around Rs 25 with stop loss at Rs 19 and target of around Rs 38.”
“Tata Steel is at a 10-year high. I think it will go on to add further strength, 8 percent open interest has been added yesterday and was up 2 percent in new series. So I am buying the 800 Call at around Rs 19 with stop loss at Rs 15 and a target at around Rs 28.”
“Another largecap auto stock is Bajaj Auto where we feel 6 percent open interest was added, and was up 2 percent and RE 60 news may be coming any moment. But that is not the reason for the buying. I am buying the 3,400 Call at around Rs 90 with stop loss at Rs 60 and a target of around Rs 140.”
“Bata India which has taken support around Rs 700-705 four times in the last two months has bounced back. 7 percent open interest was added in the stock. I am buying the 720 Call at Rs 26 with a stop loss at Rs 21 and target around Rs 35,” he said.
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