Buy Ashok Leyland 25 Call: VK Sharma

Sharma told CNBC-TV18, "Tata Motors also reversed its move day before but Ashok Leyland looks better because almost 13% positions were added on the long side with the stock going up by 3%. I am suggesting buying the 25 call here which was available at around Re 1 and hope to make Rs 1.50 on this. So you can hope to sell this at Rs 2.5, that’s my strategy."

He further added, "I tend to disagree that this is the time when people don’t have the confidence. I meet a lot of investors and people have actually taken out money, they don’t have the confidence in the markets and that I think per se is indicating towards that the markets can surprise on the positive side and the stock futures that have been added in the current series, in the first 5 sessions or 23 crore shares in the stock futures is a 15 month high. So my sense is that the market is probably giving those indications which give us enough confidence to not only buy the dips but to buy the stocks at the current prices."