Buy IDFC 140 Call at Rs 3: VK Sharma

Buy IDFC 140 Call at Rs 3, says VK Sharma, HDFC Securities.

Sharma told CNBC-TV18, "IDFC has done pretty well for itself not only the open interest went down because of profit taking but the stock went up. So when stocks get sold, positions get unwind, still the stock goes up. I think there is some semblance of an order here that the stock is going to move up."
He further added, "If infrastructure of the private sector is going to play larger role in the roll out, IDFC is the stock to watch in case you want to invest. But from a traders perspective, I will be comfortable in terms of buying the 140 call if it falls from the levels of yesterday and buy at around Rs 3. Keep a stoploss at Rs 2 and hope to sell it at a decent profit in the current series."
"The other one that I like is Axis Bank. It has done well, in the sense that while other private sector banks the larger ones were not doing well. This is one stock which is beginning to do well. So, in Axis bank my strategy is to buy the 1120 call which is available at around Rs 21 and keep a stop loss at around Rs 10 here and hope to sell this at Rs 45. But the safest sector would still be the power sector to invest as a strategy."