Gaurav Bissa, Derivatives Analyst at LKP Securities is of the view that one can buy Lupin and Adani Power and can sell PVR.
Gaurav Bissa, Derivatives Analyst at LKP Securities told CNBC-TV18, "My first recommendation would be buy on Lupin December series futures. We have seen short exhaustion coming clearly in the name. It has a good base formation, short term base formation so to speak at around Rs 825-826. It has already moved up a bit. So any dips toward Rs 840 can be bought with a stop loss of Rs 827-828 and target of Rs 880."
"The stock has seen good amount of long positions today, around 7-8 percent open interest addition."
"Second would be a sell call on PVR December series future. 7-8 percent open interest addition was seen in last three to four days and the stock is struggling to find any move above Rs 1,300 levels. Using Rs 1,315 as a stop loss one can sell PVR December series future for target of Rs 1,275."
"Last recommendation would be on Option Call, a buy on Adani Power December series of 40 strike Call option. The reason being that 35 Call option command the highest OI concentration for six months in a row. It is now trading above those levels comfortably. There is a breakout on the daily charts and OI addition of 20-25 percent in last two trading sessions."
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