Buy Reliance Industries, Colgate Palmolive, Britannia Industries: VK Sharma

VK Sharma, Head of Business-Private Client Group at HDFC Securities told CNBC-TV18,"A stock to go long is Reliance Industries because in the last series it has gone down by 8 percent, huge positions were build. This time the market has cut position; not building new ones on the longer side. I am buying 1,360 Call at Rs 26. Yesterday it had gone up, so the current premium is 30. I am buying a slight dip at Rs 26 with stop loss at Rs 18 with a target of around Rs 40 in the current series."

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"I am buying Colgate Palmolive (India) because it is doing well. I am buying 1,040 Call at Rs 21 at the current price with a stop loss at Rs 15 and target around Rs 32. 8 percent. Open interest has been added, which is good," he said.

"Britannia Industries is now beginning to do well probably it gave the first indication when it made Doji yesterday. It has fallen 8 percent from the higher levels. I am buying 3,500 Call at Rs 62 with stop loss at Rs 45 and target of around Rs 100."

"I am buying Bata India because in the month of July we could see some government incentive for leather and therefore which could rub in to Bata India as well making the raw material slightly better. I am buying 540 Call at Rs 12, stop loss at Rs 8 and a target around Rs 20," he added.