VK Sharma, Head - PCG and Capital Market Strategy at HDFC Securities is of the view that one can buy Federal Bank 115 Call, RBL Bank 550 Call and Sun Pharmaceutical Industries 660 Call.
VK Sharma, Head - PCG and Capital Market Strategy at HDFC Securities told CNBC-TV18, "I am looking at two banks, one is Federal Bank and another one is RBL Bank. RBL Bank has moved after a lot of time and has crossed the level of Rs 630 which was acting as a huge resistance. I am buying the 550 Call at Rs 10, stop loss at Rs 7 and target of around Rs 15."
"Federal Bank which has not seen much open interest being added, yesterday 2 percent open interest got reduced, but that is essentially profit booking. So I am buying the 115 Call at Rs 3, stop loss at Rs 1.50, and target of around Rs 6."
"Sun Pharmaceutical Industries is obviously a choice. It was essentially before the news came in about the re-inspection possibilities on February. I had chosen this stock essentially because on Friday it had not risen, all the rise had taken place on Thursday when some kind of open interest (OI) was added. So I am buying the 600 Call at around Rs 18, stop loss at Rs 14, and target around Rs 25," he said.