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Buy Cairn India 350 September Call Option, says VK Sharma, HDFC Securities.
Sharma told CNBC-TV18, "In Cairn India we will buy the September call of 360 strike price whatever it is quoting at and hope to put in Rs 3-4 stoploss there. Otherwise even for those investors who want to go out and buy the stock - for them also I think by writing 350 strike price September would be a good idea."
He further added, "My own sense is that the powers, which want to keep the Vedanta group away from the oil sector will ensure that even if ONGC doesn't make an open offer, they will atleast ensure that the price that they pay is pretty high. From that respect I think the chances of an open offer which are at the same price at which the promoters are getting because the guidelines which are already there, the last date for submission of that was August 21. So from my own perspective, I think one could hope. So therefore buying a call would be a good idea."
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