Amit Gupta of ICICIdirect suggests buying Arvind and Ujjivan Financial Services.
Amit Gupta of ICICIdirect told CNBC-TV18, "We are buying Call options for this particular series. 15 sessions are left, so my view is that Arvind which had moved up significantly yesterday, there was no sign of tiredness in the stock throughout the day, if you look at the additions it has been really steep. My sense is after a long consolidation of one or two years and a breakout above Rs 420 and once we have seen already a significant short covering trend from Rs 420 levels these long additions will take the stock towards Rs 500 odd levels. So we are recommending a buy Call option of Rs 470 only in Arvind at a premium of around Rs 12-14."
"Ujjivan Financial Services was one of the first stocks which started moving up recently. It had a move towards Rs 410 and then it declined towards Rs 360. It has again reached to these levels. So, I think it is on the verge of breakout. It is available at a premium of around Rs 12-14, so if somebody can buy this for couple of weeks, I think once the strike becomes in the money you will start making good profits in this particular stock option also.""So these are two Call options that we are recommending to our clients along with the writing Put option of Nifty," he said.