Feb 16, 2017 12:17 PM IST | Source: CNBC-TV18

Buy Dr Reddy’s Laboratories 2850 Put: Mitessh Thakkar

Mitessh Thakkar of miteshthacker.com is of the view that one can buy Dr Reddy’s Laboratories 2850 Put while he feels that the trend in Tata Motors DVR is on the downside.

Mitessh Thakkar of miteshthacker.com told CNBC-TV18, "I would trade Tata Motors DVR, anything close to levels of about Rs 275 would be extending shorting opportunities with the fall in the last two days, the trend is firmly on the downside."

"I had Dr Reddy's Laboratories on the sell list. It has come off a bit but I think I would still be comfortable buying the 2,850-2,800 strike Put options. For futures traders, good level to sell will be around Rs 2,880-2,890 zone. Keep a stop loss just above Rs 2,930 and we are looking at target close to about Rs 2,750," he said.

"The other call is a sell on Jain Irrigation Systems with a stop loss at Rs 95 for target of Rs 89."

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