Buy Ashok Leyland, sell Petronet LNG: Hemant Thukral

Hemant Thukral of Aditya Birla Money told CNBC-TV18, "We have selected two stocks, one on the long side and one of the short side. We feel that Ashok Leyland has seen good open interest addition on the long side because 5 percent open interest was seen added up on Friday. What was more important was the way 115 Put writers, 110 Put writers were emerging; that means the base level is shifting up. So, here we are recommending a long position with a stop loss of Rs 117 and a target of Rs 127."

"We have given a sell recommendation on Petronet LNG. The stock usually does not see so many shorts added up, but on Friday, it has seen 6 percent open interest added up. It broke below Rs 250 which was acting as a very strong support over last three months. So, that is a break down on the downside. Also, 250 Call writers emerged. So, we are recommending a sell with a stop loss of Rs 247 and a target of Rs 234," he said.