Buy RIL 1180 call, says VK Sharma

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Buy RIL 1180 call, says VK Sharma

VK Sharma of HDFC Securities is of the view that one can buy Reliance Industries (RIL) 1180 call which was available at Rs 11.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See previous views by VK Sharma See what other Experts & Brokerages are saying about Reliance See messages about Reliance Reliance BSE | NSE 01/06/12 Are Mutual Funds betting on Reliance?

VK Sharma of HDFC Securities is of the view that one can buy Reliance Industries (RIL) 1180 call which was available at Rs 11.

Sharma told CNBC-TV18, "Reliance's share price was up only 4%. The open interest buildup was not high but then you need to see that open interest was infact added when the stock has given the breakout. Normally you tend to see that the open interest reduces incase there is no belief but that hasn't happened. Therefore I think a region of Rs 1150 quite seems within the reach of RIL and the best way to do it is to buy 1180 call which was available at Rs 11 at close of business yesterday. That seems to be a good bet in which the cost is low and investors and traders also can use that bet. "