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Last Updated : Nov 21, 2017 03:03 PM IST | Source: CNBC-TV18

Buy V-Guard Industries, Titan Company; sell IDBI Bank: Gaurav Bissa

Gaurav Bissa of LKP Securities is of the view that one can buy V-Guard Industries and Titan Company and can sell IDBI Bank.


Gaurav Bissa of LKP Securities told CNBC-TV18, "The first recommendation would be buy on V-Guard Industries Futures. It is coming out of a range and as far as the derivative is concerned, yesterday it added up somewhere around 5-7 percent. Today you are seeing some addition on 14-15 percent, so 20 percent open interest addition in future segment and breaking out from a range. The momentum is quite strong and it can head towards Rs 250 mark."

"I would recommend buying at the current price with a stop loss of Rs 232-233 on the upside and targets can be around Rs 245."

"Second would be a buy on Titan Company Futures, after a short covering of 8-10 percent now we are seeing some good amount of long positions getting build. On intraday basis, there is an addition of about 10 percent. 800 Call option commands the higher open interest concentration. It is now trading above these levels, so a move to Rs 825 cannot be ruled out. With a stop loss of Rs 792, one can buy Titan futures," he said.

"A  sell recommendation on IDBI Bank, the reason is that about 10 percent short positions were seeing getting build in last four to five trading sessions and the price action has been a fall of just Rs 1.5-2. It can head towards Rs 59. So with that as a target in mind, one can sell IDBI Bank with a stop loss of Rs 61.8," he added.
First Published on Nov 21, 2017 02:57 pm