Dec 16, 2016 11:15 AM IST | Source: CNBC-TV18

Buy Reliance Capital 440 Call, says VK Sharma

According to VK Sharma of HDFC Securities, one may buy Reliance Capital 440 Call.

VK Sharma of HDFC Securities told CNBC-TV18, "Reliance Capital is one such stock where we would like to buy. I am buying the 440 Call at around Rs 14 with stop loss of around Rs 10 and a target of around Rs 24. This is a stock in which we have seen positions being built to the extent of 3 percent in series and is up 5 percent for the whole of series."

"Bear call obviously is not a surprise - Aurobindo Pharma is up, in terms of the open interest (OI), it has gone up by 13 percent in the series and the stock is gone down by 3 percent. Combining with the news that has come in today, I am buying the 680 Put at Rs 9.50 with a stop loss at Rs 5 and target slightly large of around Rs 25 for that Put."

At 10:06 hrs Reliance Capital was quoting at Rs 444.00, up Rs 0.90, or 0.20 percent. It has touched an intraday high of Rs 449.50 and an intraday low of Rs 443.85.
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