Buy Dabur India 140 Call: VK Sharma

VK Sharma, Head Private Broking & Wealth Management, HDFC Securities advises traders to buy Dabur India 140 Call.

Sharma told CNBC-TV18, “Among stocks I think till these levels are crossed it is better to stick to fast moving consumer goods (FMCG) stocks like Dabur India, which is nearing its all time high of Rs 140. It closed today at Rs 137 odd. I am suggesting buying the Rs 140 call for the current series which closed at around 1.3. This investors and traders can buy with a stop loss of Rs 0.50 and with a hope to sell this call at a price of Rs 4.”
He further added, “Among the oil marketing companies Indian Oil Corporation (IOC) was better placed. It closed at Rs 317. Positions were added in open interest to the tune of 11 percent, price also went up by 2 percent. On the charts this is looking slightly better than others. I am suggesting buying the Rs 320 call at around Rs 6 and put a stop loss at Rs 3 and hope to exit this call at around Rs 12 in the current settlement.”