Go long in Videocon Industries: Bhamre

Go long in Videocon Industries at around Rs 189-190, says Siddharth Bhamre, Angel Broking.

Bhamre told CNBC-TV18, "Lot of traders are having short positions in Nifty and what they are doing is some more of intraday trading in stock futures and carrying forward their short positions in Nifty which got created sub 5400 levels. So, these are loss making positions. So, I think they will wait for final day either to roll over their positions or to just let it square off that way. What these guys are doing basically, traders are adopting stock specific approach mainly on the long side and index on the short side and in March people are going slightly lighter in stocks but more heavier in index." He further added, "Also I would like to comment few of these stocks, which are related to oil and gas space, which I would bet positive. (1) Cairn which you guys have spoken about and also Videocon Industries where substantial part of earnings come from Crude oil exploration business, so that stock has seen good amount of long built up. So, I would suggest to go long around Rs 189-190 levels, which it