Buy Reliance Industries 740 Put: VK Sharma

Sharma told CNBC-TV18, "Reliance Industries is the first stock which has been underplaying the market for the past three years and while Infosys did surprise there is a good surprise waiting for Reliance probably. The surprise could be the market may realise that Reliance has virtually no plans for its KG-6 so that is what it looks like for the time being. One would have said that they would have come out with good amount of guidance."

He further added, "My sense is that investors who are invested in Reliance at least they should buy the puts, so I am suggesting buying 740 put which is available at around 17 and hope to sell this at around Rs 30 but those who are holding the stock they need not trade, they can just buy the put and hope that the results are not that bad."