Watch the interview of Gaurav Bissa of LKP Securities with Anuj Singhal & Ekta Batra on CNBC-TV18, in which he shared his readings and outlook on market and specific stocks.
Below is the verbatim transcript of Gaurav Bissa's interview with CNBC-TV18
Axis Bank
"Axis Bank has a very beautiful options pattern. If you look at the 600 Call and Put combined in straddle, it has the highest open interest (OI) concentration and that has been for last four-five months. The stock has crossed this level and is trading above this level. I feel it can test levels Rs 630-640 going ahead in current series. So I recommend going long on 620 options. The target can be around Rs 13 with a stop loss of Rs 3.5."
Wipro
"IT pack as a whole is looking quite robust. They have not been performing for last couple of weeks or couple of months also. Wipro in last three trading session has witnessed decent amount of long positions on a consistent basis. It has also given a breakout, so I feel it can test levels of Rs 585-590. Based on that, I recommend going long in Wipro futures. The targets for the same would be Rs 585 keeping a stop loss at Rs 557."
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