F&O cues: Amit Gupta bets on Dena Bank, Apollo Tyres

Futures and options (F&O) expert Amit Gupta of ICICI Direct is bullish on Dena Bank and Apollo Tyres and recommends buying them.

"One can buy Dena Bank with a stop loss of Rs 92 and target of Rs 102-103. Go long on Apollo Tyres at Rs 91-90, keeping a stop loss of Rs 86 and a target of Rs 100," he said in an interview to CNBC-TV18. Also Read: Brace for market correction later this yr: Nouriel Roubini Below is the verbatim transcript of Amit Gupta's interview on CNBC-TV18. Q: What are your views on Dena Bank? Do you think it is a good 'buy'? A: Dena Bank is one stock that we can look into. This stock has seen lot of short buildup when it was coming down from Rs 120 to almost Rs 95 levels. Now we are seeing those shorts are getting covered and from Rs 95 levels one can initiate a long position in the stock. They can keep the stop loss around Rs 92, look for a target of around Rs 102-103 in the coming sessions. Q: Do you have any thoughts on Apollo Tyres? A: This is one stock which has performed well. It has moved from almost Rs 84-85 levels to Rs 91-92 and it has consolidated to a very larger extent. In this stock in the last quarterly results we had seen that it came down and now after making a base it is moving up. Around Rs 91-90 one can buy the stock, keep a stop loss around Rs 86 and look for a target of Rs 100.