Buy IDFC 57.50 Call, Tata Elxsi 1600 Call: VK Sharma

VK Sharma of HDFC Securities told CNBC-TV18, "One of the stocks that we like is IDFC, which moved up yesterday with the 17 percent open interest in the series and yesterday 3 percent was added. We are buying this stock like all other stocks at a price which is lower than yesterday. I am buying the 57.50 Call in IDFC at a price of Rs 1.20. Yesterday it closed at Rs 1.50. Keeping a stop loss at Re 0.70 and a large target of around Rs 2.50 for the settlement." 

"Other stocks that we think that can do well are the IT stocks and some of the smaller ones in IT – Tata Elxsi which did well yesterday, so I am buying the 1,600 Call at around Rs 25 lower than the price of Rs 32 where it closed yesterday, target of around Rs 42 with a stop loss at Rs 50," he added.

"Go long in Tata Steel because a lot of positions have been built in this short span. So, I am buying the 510 Call there at a price of around Rs 8. Yesterday it closed Rs 10.50, keep stop loss at Rs 5 and target of Rs 13."