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Last Updated : Jan 08, 2018 11:53 AM IST | Source: CNBC-TV18

Buy Federal Bank 115 Call, RBL Bank 550 Call, Sun Pharma 660 Call: VK Sharma

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.

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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.

"Granules India is a smallcap stock. I am buying the  140 Call at Rs 5.3, stop loss at Rs 4, and target of around Rs 8," he added.
First Published on Jan 8, 2018 11:53 am
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