Sep 13, 2013 10:56 AM IST | Source: CNBC-TV18

Don't take fresh positions until Nifty breaks 6K: HDFC Sec

VK Sharma of HDFC Securities recommends market participants to build fresh positions only after the Nifty breaks the crucial 6,000 level on the upside. He sees the downside capped at 5800.

In an interview to CNBC-TV18 VK Sharma of HDFC Securities shared his outlook on the F&O segment and how one should play it. He recommends market participants to build fresh positions only after the Nifty breaks the crucial 6,000 level on the upside. He sees the downside for Nifty at 5,800.

Meanwhile, he suggests buying the 180 Call of Tata Communications at around Rs 8 with a stop loss at Rs 6. "One can sell this at Rs 12 which will give you almost 50 percent appreciation on the premium that you put at this stock," he added.

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