Buy Power Finance Corporation, Wipro; sell BEML: Gaurav Bissa

Gaurav Bissa, Derivatives Analyst at LKP Securities told CNBC-TV18, "Among the stock recommendations, the first would be on Power Finance Corporation (PFC). We have seen consistent long positions getting built, there is a lot of buying that is happening at 170 Call option. It has been trading in a narrow zone of Rs 160-165. It is coming out of that. Volume participation is also quite robust. It can test levels of Rs 175-178 in the current series. However, for a short-term trader, one can have a stop loss of Rs 164, play for target of Rs 172."

"Second would be buy on Wipro. We have seen some uptick coming in a lot of these IT names. Wipro for one has been finding strong support at Rs 490-495 zone. There are some long positions that are seen getting built. 500 Call option commanded one of the highest open interest (OI) concentration. It is now trading above these levels. A short-term trading target of Rs 520 can be seen with a stop loss of Rs 496. One can buy Wipro," he  said.

"The last recommendation would be sell on BEML. Consistent short positions in the higher levels. It has given a breakout on daily charts. Crucial support of Rs 1,350 has been breached. Short trading target of Rs 1,320 with a small stop loss of Rs 1,355 and one can sell BEML."