Bhamre told CNBC-TV18, "Last month because of FPO, the stock has seen significant battering. Lot of short positions got added. If you see series to series, December series added around more100% of open interest and prices have significantly come down. Rollover is just 57%, which clearly indicates that people have not opted to rollover the short positions. And last two trading sessions we have seen good price movement, along with some formation of long positions because cost of carry also increases."
He further added, "In fact yesterday in fag end of trading sessions lot of cash base buying happening and there was a good spike in SCI. We are quite bullish in this stock. We have recommended to our clients. I have a personal holding in the stock. I am expecting stock to go to Rs 158 levels and fix a stop loss of Rs 121 and go long and trade with positive bias."
