Buy Escorts, Karnataka Bank; RIL likely to remain range bound: Hemant Thukral

Hemant Thukral of Aditya Birla Money told CNBC-TV18, "We have chosen two midcaps. One is Escorts which has added on week-on-week basis 16 percent open interest (OI) on the long side. Important for me is the way 700 Call writers have unwinded their positions. So, keep stop loss of Rs 695 and a target of Rs 740."

"Second is Karnataka Bank. Within the banking space, it saw the maximum open interest built up to the tune of 12 percent on Friday and it has managed to cross Rs 160. So here stop loss is Rs 157 and target is Rs 176."

"We are watching very carefully HDFC Bank because it has managed to cross Rs 1,825. It has also added huge Put Open Interest at Rs 1,800. So that is the one which will help Bank Nifty to achieve 25,000; that is what we feel."

"Reliance Industries, for me important would be that it should cross Rs 910 because Rs 900 has the maximum Call Open Interest. If I see the average selling price, it was between Rs 7-8. So if it can manage to cross Rs 910, then there will be a further rally. Otherwise, I feel for entire this series, Reliance will remain between Rs 865 and Rs 905," he added.

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